01 Aug '16, 10am

School property in Hillside Drive goes for $68milion #SingaporeProperty #PropertNews #RealEstate

Private equity investment firm Lucrum Capital has sold its 81,468 sq ft school property in Hillside Drive for nearly double what it paid in 2012. Hong Kong-listed China Maple Leaf Educational Systems has picked up the property for $68 million, the Chinese international school operator said earlier this week. The property - the premises of the former CHIJ St Joseph's Convent - comprises about 30 classrooms, including a music studio, science labs and art studios, a multi-purpose hall, and a design and technology room. It is leased to international school Hillside World Academy, formerly known as the Chinese International School. The site is held under a 103-year leasehold tenure from 2012. Lucrum bought the land for $34.4 million from the Lady Superior of the Convent of the Holy Infant Jesus in Penang, which reportedly holds a 999-year leasehold title that began in December ...

Full article: http://www.srx.com.sg/singapore-property-news/22132/schoo...

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