Published:
Natural Cool dumps its Tagore Lane property
The property is a non-core asset, and part of the net sale proceeds will be used to reduce the Group’s bank borrowings.
Natural Cool Holdings Limited’s wholly-owned subsidiary Natural Cool Airconditioning & Engineering Pte Ltd previously entered into an Option to Purchase with Mantec Holdings Pte. Ltd. in respect of the sale of property located at 202 Tagore Lane Singapore 787591.
Under the Option, the sale price for the property was S$4.50 million. This was based on a fair market value of S$4.35 million by Savills Valuation and Professional Services Pte. Ltd. on 30 January 2012.
An announcement said the proceeds will also be used for working capital to generate future growth.
The sale of the property has been completed.
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