Pei Fu building in S$76.25m collective sale

Singapore

NEWLY-LISTED SLB Development announced on Tuesday that subsidiary Oxley Kyanite has exercised the option to acquire freehold Pei Fu Industrial Building for a total of S$76.25 million.

The transaction price, reported earlier by The Business Times, surpasses the reserve price of S$75 million, and works out to S$489 per square foot per plot ratio (psf ppr), based on the proposed gross floor area (GFA) of 155,864 square feet (sq ft). This unit land rate does not include a development charge that may be payable to the State, as the development baseline has yet to be ascertained.