Daily Briefing: Piermont Grand sells 46% of units on weekend launch; Stamford Land acquires mixed-use property in London for $441m

And medical lab firm Clearbridge Health raises $11.34m from a share placement.

From iCompareLoan:

Piermont Grand Executive Condominium sold 375 out of its 820 units during its weekend launch for an average price of $1,080 psf, according to developer City Developments Limited (CDL).

Eligible second-time buyers reportedly accounted for about 65% of the units sold. In line with prevailing EC regulations, only 30% of the project can be allocated to second-time buyers during launch.

Piermont Grand offers 3-, 4- and 5-bedroom units. Apartment sizes are from 840 sqft for a three-bedroom to 1,701 sqft for a 5-bedroom premium penthouse. Prices start from $888,000 for a 3-bedroom, $1.34m for a 4-bedroom premium and $1.51m for a 5-bedroom premium.

Read more here.

From DealStreetAsia:

Singapore Exchange (SGX) Mainboard-listed Stamford Land Corporation (Stamford) and Ow Global Pte Ltd (Ow Global) have jointly completed the acquisition of a London-based mixed office and retail property for $441m (US$321.54m).

Stamford will take up a 60% stake in the property located on 8 Finsbury Circus, London, while Ow Global, owned by CK Ow, executive chairman of Stamford, will pick the remaining stake.

8 Finsbury Circus is a 10-storey freehold Grade A commercial office building. The total floor area spans over 180,000 sqft and is situated in London’s city core.

Mitsubishi Estate London, the previous owner, completed the redevelopment in 2016. The property is currently leased to one retail tenant, and four office tenants, including well-established investment houses.

Read more here.

From DealStreetAsia:

Singapore Exchange (SGX) Catalist Board-listed healthcare company Clearbridge Health Limited is raising $11.34m (US$8.28m) from a share placement exercise, according to an announcement.

The fund raised – that will be through an equity placement of 80.45 million ordinary shares priced at $0.14 (US$0.1) per share – will reportedly accelerate the company’s growth plans in the Asian healthcare market and strengthen its balance sheet.

According to a statement issued by the company, proceeds will be used for acquisitions, organic business growth and working capital purposes.

The key subscribers of the equity placement include Macondray Company Limited and Coop International.

Read more here.