Published:
Ascendas REIT sells BBR Building for $13.9m
More than double the original purchase price.
Ascendas REIT will sell BBR Building to BBR Holdings for a total consideration of $13.9m.
This price is more than double the original purchase price S$6.8 million in 2005.
The proposed sale originated from an unsolicited enquiry from BBR. BBR is the parent company of Singapore Piling & Civil Engineering, the existing tenant on the property in occupation since A-REIT’s acquisition of the Property in 2005.
The existing lease with Singapore Piling will expire in June 2015. The proposed sale is subject to approval by JTC Corporation.
Read Here
Advertise
Sign Up
