UK group in exclusive due diligence for Manulife Centre
If acquisition by Chelsfield confirmed at about S$550m, deal will be biggest local office transaction so far for 2018
Kalpana Rashiwala
Singapore
BRITISH property group Chelsfield is understood to be effecting exclusive due diligence on Manulife Centre in Bras Basah Road with a view to purchasing the 11-storey commercial building.
The price is expected to be around S$550 million. This would reflect around S$2,300 psf on the building's net lettable area (NLA).The building has retail space on street level and offices above. Manulife Centre is being offered on a remaining leasehold tenure of about 96 years.
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