22 Jun '17, 9am

112 Katong owners evaluating offers; mall expected to fetch S$500m

112 Katong owners evaluating offers; mall expected to fetch S$500m

KEPPEL Group has put 112 Katong, a mall at the junction of East Coast Road and Joo Chiat Road, on the market. The property is expected to fetch around S$500 million. A private expressions of interest exercise is being conducted for the sale by property consulting groups CBRE and JLL on behalf of the mall's owners Alpha Asia Macro Trends Fund (AAMTF) and Keppel Land. The initial closing for the EOI was last month, followed by a subsequent closing earlier this month. The owners are said to be evaluating the "handful of offers" from local and overseas parties that were submitted for the second closing, with the aim of shortlisting a party with whom they will then negotiate a sale. When contacted, a Keppel spokesman said: "We will make an announcement if any transaction takes place." The mall, which is on a site with a balance lease term of about 61 years, has close to 207,160...

Full article: https://www.srx.com.sg/singapore-property-news/38252/112-...

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