Oxley sells Chevron House for $1.025b

The property is being revamped before the completion of the proposed sale.

Oxley Holdings has agreed to sell its interest in Chevron House, owned by its subsidiary Oxley Beryl, to Golden Compass (BVI) for an aggregate value of $1.025b, an announcement revealed. Golden Compass (BVI) will also take over the existing bank loans related to Chevron House.

Also read: Oxley accepts $1.03b offer for Chevron House

Chevron House is a 32-storey commercial development comprising 27 levels of office space and a five-storey retail podium with an existing net lettable floor area of 24,273 sqm. On 1 March 2019, Oxley commenced alterations and additions and asset enhancement works (AEI) on the property which shall be completed before the final completion of the proposed sale.

Oxley will also enter into a project management agreement with Oxley Beryl before the first completion. It shall be responsible for the implementation, execution and completion of the AEI works, as well as the divestment by Oxley Beryl of the retail and banking units of the property.

Oxley purchased Chevron House in November 2017 for a consideration price of $660m.

Also Read

One Sophia sells 30% of units at weekend launch

SLA launches tender to revitalise Tanjong Katong Complex

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit