News

Commercial Property

Staff Reporter

, Singapore

Published:

12 years ago

Suntec REIT sells Chijmes for S$177m

PRE 8 Investments is purchasing the property for a price 23% above valuation.

An announcement said the S$2,218 psf on net lettable area “represents a 23.2% premium over the valuation of S$143.7 million as at 15 October 2011, and a 3.9% annualized yield on Chijmes’ net property income of S$5.2 million for the nine months ended 30 September 2011." Suntec REIT acquired Chijmes in December 2005 for $128 million.

With a net lettable area of 79,794 sq ft, Chijmes currently constitutes 2.3% of Suntec REIT’s portfolio by NLA and contributes 3.7% to the total net property income.

The transaction is expected to be completed by January 2012.

Also Read

Business park rents grow 2.1% in 1Q24

Singapore office demand softens

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Tan Tock Seng Hospital introduces flexible working shifts for nurses

The initiative allows nurses to have a mix of routine and flexible shifts.

Healthcare

10 hours ago

UOB grants 30,400 shares to eligible non-executive directors

The share awards are part of the directors’ remuneration for 2023.

10 hours ago

Riverstone logs 54.5% YoY net profit growth in Q124

This marks the fifth consecutive quarter of growth for the company.

Healthcare

10 hours ago

OCBC logs record net profit of S$1.98b in Q1; EPS is S$1.76

Higher wealth management and insurance income pushed up fee income.

10 hours ago

Exclusives

New guideline restricts rejections of flexible work arrangement requests to business factors

By December this year, employees whose requests were rejected based on bias can seek union aid.

HR & Education

Startup future-proofs coffee with bean-free alternative amidst climate crisis

Prefer transforms surplus ingredients like day-old bread, soybean pulp, and barley grains into bean-free coffee.

Food & Beverage

Industry boosts accounting appeal with new roles, education programmes

There has been a 10% decrease in accounting degree students at universities in Singapore.

Financial Services

20 Hottest Startups of 2024

Sustainability-focused startups dominated the list.

Markets & Investing

Event News

Wiseasy Technology earns a win in the Payments category at the SBR National Business Awards 2024

Co-Written / Partner

Wiseasy's WiseQ Mobile Payment Solution is shaping the future of the QR payments landscape for businesses, designed to prevent fraud and inefficiency, and ultimately, to serve an even bigger purpose.

Energy & Offshore SBR Technology Excellence Awards 2024 Winner: Senoko Energy

Co-Written / Partner Rezeca Renewables takes home Energy category trophy at SBR National Business Awards 2024

Co-Written / Partner Infineum triumphs with Big Data - Chemicals win at SBR Technology Excellence Awards

Co-Written / Partner Wiseasy Technology earns a win in the Payments category at the SBR National Business Awards 2024

Wiseasy's WiseQ Mobile Payment Solution is shaping the future of the QR payments landscape for businesses, designed to prevent fraud and inefficiency, and ultimately, to serve an even bigger purpose.