22 Mar '11, 9am

A CBD office block has been sold for $227 million, achieving the highest per square foot price so far this year

A CBD office block has been sold for $227 million, achieving the highest per square foot price so far this year

JLL brokered the sale of One Finlayson Green, a freehold commercial building with 19 storeys, to a group of private investors. -- PHOTO: JONES LANG LASALLE SINGAPORE - AN OFFICE block in Singapore's central business district has been sold for $227 million, achieving the highest per square foot price so far this year, Jones Lang LaSalle (JLL) said on Tuesday. JLL brokered the sale of One�Finlayson Green, a freehold commercial building with 19 storeys, to a group of private investors. The property belonged to a fund managed by Lucrum Capital. The sale price works out to around $2,520 per square foot, which is more than the $2,300 per square foot Keppel Land's Alpha Investment Partners and Singapore insurer NTUC Income paid when they bought Capital Square earlier this month. Stella Hoh, head of investments at JLL Singapore, said the property attracted strong investor intere...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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