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
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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.
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