Unit of Tsao family’s IMC Group pays S$24 million for office floor in Orchard area

AN office floor at the freehold Nomu in Handy Road is being sold for nearly S$24 million; this works out to S$3,790 per square foot on a strata area of 6,329 sq ft.

The buyer is a Singapore-incorporated entity that is an indirect wholly-owned subsidiary of Bermuda-incorporated IMC Group Holdings. IMC are the initials for International Maritime Carriers, a shipping business founded by the late Frank Tsao in Hongkong in 1966. Tsao also led a consortium comprising Hongkong tycoons that developed the Suntec City complex in Singapore.

The IMC Group unit is buying the third level of the 12-storey Nomu, off Orchard Road, from a company owned by Wong Mun Summ and Richard Hassell, the founders of Woha Architects.