COMMERCIAL PROPERTY | Staff Reporter, Singapore

CapitaCommercial Trust reportedly selling One George Street building

It was valued at $975m in 2014.

CapitaLand Commercial Trust is reportedly selling a prime office tower in the central business district, according to a person familiar with the transaction.

Bloomberg reported that CCT is seeking to sell the 23-story One George Street building in the Raffles Place office district, the person said, asking not to be named as the information is private.

The building's tenants include Royal Bank of Scotland Group Plc and Diageo Singapore Pte. It has 41,564 square meters (447,000 square feet) of lease area, according to the trust’s website. The tower, bought in 2008 for S$1.17 billion ($816 million), was valued at S$975 million as of Dec. 31, 2014, the website showed.

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