10 Jul 2018

Purchase of Commercial Building at 55 Market Street Singapore

Partners Norman Ho, Benjamin ST Tay, Senior Associate Shane Ng, and Associates Noah Tan, Alan Tan, Amelia Cheng are acting as transaction counsel for an undisclosed real estate fund with assets of US$73 billion under management globally, in the purchase of the commercial building at 55 Market Street Singapore, from SGX-listed REIT, Frasers Commercial Trust (via a purchase agreement entered into with its trustee, British and Malayan Trustees), at a sale consideration of S$216.8 million which works out to S$3,020 per square foot based on the building’s net lettable area.