CIT in talks to acquire 5 & 7 Gul Street 1 property

The company has entered into a put and call option agreement with Precise Industries Pte Ltd in connection with the proposed acquisition.

The purchase price of 5 & 7 Gul Street 1 has been revised upwards from S$12.5m to S$14.5m.

In addition, initial rental for the lease has been agreed at S$1.36m/year which works out to be ~9.4% gross rental income yield.

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