SUBSCRIBERS

Zhou family from Shanghai buys 60% of 139 Cecil Street

Transaction said to value leasehold office block at S$140m; Zhous acquired next-door property last year

Kalpana Rashiwala

Published Thu, Sep 22, 2016 · 09:50 PM

Singapore

THE Zhou family from Shanghai who picked up an office block at 137 Cecil Street last year has bought a 60 per cent stake in the company that owns the next-door property at 139 Cecil Street.

The latest deal is said to value the 11-storey property at S$140 million. It is on a site with 99-year leasehold tenure starting Aug 20, 1981, which means the balance lease is around 64 years.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes