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Benjamin ST Tay

Partner, Rajah & Tann Singapore LLP

Practice Area:

Corporate Real Estate

LLB (Hons), National University of Singapore
Advocate & Solicitor, Supreme Court of Singapore

T +65 6232 0375
E [email protected]

Benjamin is a Partner in the corporate real estate practice. His main practice areas include corporate real estate acquisitions and divestments, leasing of commercial and industrial real estate, and other real estate related advisory and financing work involving property-related commercial contracts and security arrangements. 

Before joining the firm, he was a partner at a corporate real estate practice group in another big four firm.

Experience

Notable transactions which Benjamin have been involved in include:

Acquisitions and Disposals
  • Acted for AbbVie Operations Singapore Pte. Ltd. in its acquisition of a biopharmaceutical manufacturing facility in Tuas Biomedical Park from MSD International GmbH (Singapore Branch) (“MSD”) and including post-Completion disentanglement arrangements with MSD.
  • Acted for Kheng Leong Company (Private) Limited in the acquisition of Nassim Hill Realty Pte Ltd (“NHR”), which owned 45 then unsold units in the boutique luxury condominium known as The Nassim, from CRL Realty Pte Ltd (a wholly own subsidiary of CapitaLand Limited) for an aggregate consideration of S$411.6 million.
  • Acted for M+W Singapore Pte. Ltd. in its successful bid for the data centre situated in Jurong from Jurong Data Centre Development Pte. Ltd. (in creditors' voluntary liquidation) (receivers and managers appointed) acting through its receivers and managers, and its liquidator, at an auction conducted jointly on 16 August 2010.
  • Acted for Sembcorp Industries Ltd in its transfer of a propylene purification plant on Jurong Island to Eastman Chemical Singapore Pte. Ltd.
  • Acted for SMRT Trains Ltd. ("SMRT Trains") and SMRT Light Rail Pte. Ltd in relation to the real estate aspects of the transfer of ownership of rail operating assets (estimated at approximately S$991 million), to the Land Transport Authority of Singapore in conjunction with the transition of SMRT Trains to a new operating licence under a new rail financing framework.
  • Acted for UOL Residential Development Pte. Ltd. and UOL Property Investments Pte. Ltd. (part of UOL Group Limited) in the S$313 million acquisition of the Lion City Hotel and the adjoining site. The unit land price for the Tanjong Katong-Geylang Road area properties, with a total freehold land area of 147,909 square feet, works out to be S$779 square feet of potential gross floor area and based on the allowable development options then prevailing, the property may be developed into a commercial and/or residential development.
  • Acted for subsidiaries of UOL Group Limited in a number of its acquisition by way of collective sale and purchase from majority owners of various residential developments in Singapore, including the successful one at St Patrick’s Garden.
Leasing
  • Acted for Singapore Warehouse Company (Private) Ltd., a wholly-owned subsidiary of Hwa Hong Corporation Limited, in the grant of a 15-year lease of the land situated at Paya Lebar, Singapore, together with the nine-storey building erected thereon to Pacnet Services Global (S) Pte. Ltd.
  • Acted for Novena Square Investments Ltd and Novena Square Development Ltd, both part of UOL Group Limited, in its grant of lease of premises at Novena Square Tower A & Tower B to the Central Provident Fund Board.
  • Acted for Hotel Plaza Property (Singapore) Pte. Ltd. in its grant of lease of premises in the office block at Upper Pickering Street to the Government of the Republic of Singapore (represented by the Attorney-General's Chambers).
  • Acted for Toll Offshore Petroleum Services Pte Ltd in its grant of various leases (including built to suit leases) to various multi-national corporations in the Loyang Offshore Supply Base.
  • Acting for Godiva in the review of various Singapore tenancy agreements.
Other Real Estate Related Work
  • Acted for the syndicate of mandated lead arrangers, lenders and hedge banks as transaction counsel in the real estate aspect of the S$830 million financing to Asia Square Tower 2 Pte. Ltd. for the development of a Grade A office and retail building with an integrated 5-star hotel, and subsequent refinancing.
  • Acted for the syndicate of mandated lead arrangers, lenders and hedge banks as transaction counsel in the in the real estate aspect of the S$1.94 billion financing to Asia Square Tower 1 Pte. Ltd. for the development of a Grade A office and retail building, and subsequent refinancing.
  • Acting for Singapore DCS is preparing a Wayleave Deed for the laying of district cooling system pipes from Ocean Financial Centre to Raffles Place MRT Station.
  • Acted for M+W Singapore Pte Ltd in the real estate aspect of its enforcement of the debenture / mortgage against Jurong Data Centre Development Pte. Ltd. In relation to the data centre located in Jurong.
  • Acted for HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of Ascendas Real Estate Investment Trust) in various matters as its trustee of A-REIT and CIT.
Memberships / Directorships
  • Law Society of Singapore
  • Singapore Academy of Law