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
Add BT as a preferred source
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.
TRENDING NOW
Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Stocks to watch: Jardine Cycle & Carriage, Creative Technology, CNMC Goldmine
Malaysia’s Genting posts Q2 net loss despite 14% rise in revenue
