Commerz Real fund's half stake in 78 Shenton Way on the market
Guide price understood to be S$335 million, valuing the entire property at S$1,850 psf on net lettable area
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Kalpana Rashiwala
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Singapore
AN open-ended global fund managed by Commerz Real of Germany is said to be looking to sell its half stake in 78 Shenton Way in the Tanjong Pagar area.
The sale will be through disposal of 50 per cent of the shares in the company that owns the office development, which comprises two towers built at different times. The site has a balance lease term of 67 years.
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