29 Mar '14, 8am

United Engineers buys two HP buildings for $402m, Commercial, Singapore Property Guides & Articles - STProperty

The acquisition of Hewlett-Packard Singapore’s two buildings in Alexandra Road will be funded wholly in cash, and will bring the net book value of UE’s properties under management to over $2 billion. -- BUSINESS TIMES FILE PHOTO UNITED Engineers (UE) is buying Hewlett-Packard Singapore's two buildings in Alexandra Road for a total of $402 million. The acquisition will be funded wholly in cash, and will bring the net book value of the group's properties under management to over $2 billion, it said yesterday. Under the terms of the purchase, Hewlett-Packard will lease back the 345,101 sq ft industrial building for five years, with three options to renew for a further five years each. The American computer giant will also lease back the commercial building, with a gross floor area of 155,932 sq ft, for three years. This includes two options to renew for six months each. The p...

Full article: http://www.stproperty.sg/articles-property/commercial/uni...

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