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Sun Venture in exclusive due diligence to buy Bugis Junction Towers; office deals gather steam

Kajima buys ageing office asset in Peck Seah Street ripe for redevelopment. Buying fervour spreads to industrial segment, with LaSalle Investment Management acquiring ramp-up facility in Aljunied

Kalpana Rashiwala

Published Wed, Jun 29, 2022 · 05:50 AM

Singapore offices

THE Singapore commercial property market continues to buzz. One of the latest deals is that for Bugis Junction Towers, where Sun Venture Group is said to be doing exclusive due diligence with a view to buy the 15-storey office block for between S$675 million and S$680 million.

Over in Peck Seah Street, Kajima is paying S$111.1 million for Nehsons Building, an almost 50-year-old office building, which when redeveloped, will add to the area’s gentrification.

The buzz is also extending to the industrial property segment. An entity linked to LaSalle Investment Management is understood to be acquiring Victory Centre, a 7-storey ramp-up facility near the Aljunied MRT station, for S$90 million.