,Singapore

Sheng Siong buys new property in New World Centre for $17m

To date, the purchase is 10% paid.

Sheng Siong recently announced the purchase of a new property at the New World Centre for a total of $17.25m from Sino Holdings.

The property is a strata-titled shop on the basement 1 floor of the 3-storey New World Centre commercial building.

It has a floor area of approximately 1,790 square metres, with a leasehold tenure of 99 years commencing from 31 March 1994.

It is close to the historic district of Little India and Jalan Besar MRT Station, which gives it easy access to several highways and public transportation.

To date, the purchase is 10% paid with a deposit of $1.725m. Payment will continue through cashier’s order upon completion of adjustments to reflect any apportionment of land rent, property tax, expenses, outgoing and levies, rents and profits payable by the company upon completion.

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