COMMERCIAL PROPERTY | Staff Reporter, Singapore

MYP sells Cecil Street property for $247m

MYP Plaza has 14-storeys of office units and 3 basement car park levels.

MYP subsidiary Affreton sold the freehold MYP Plaza located in Cecil Street via definitive agreement for $247m. It was bought by Golden Estate Properties, an announcement revealed.

The commercial building in the CBD is a 14-storey office tower with total net lettable area of approximately 83,000 sqft, 3 basement car park levels and an average floor plate of around 6,5000 sqft per floor. It is easily accessible to MRT stations including Raffles Place station, Tanjong Pagar station, and Telok Ayer station.

Golden Estate Properties is affiliated to the Philippine-based Lucio Tan group of companies. The transaction is set to be completed by 20 July 2018.

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