News Formal

PIL Building put on the market with S$350m guide price; EOI draws strong interest

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Россия Новости Новости

Россия Последние новости,Россия Последние новости

PIL Building in Cecil Street - ultimately fully owned by the same entity that controls struggling Pacific International Lines (PIL) - has been quietly put on the market through an expression of interest (EOI) exercise that closed last Friday. Read more at The Business Times.

Located at 140 Cecil Street, the building was completed nearly four decades ago and substantially revamped in 2011.

Back-of-the-envelope calculations by some property consultants suggest that a development charge/differential premium of about S$80 million would be payable to the state for the rights to tap the 71,000 sq ft unutilised GFA; this does not include the lease extension premium that would be payable if the authorities agree to top up the leases for the two smaller plots to 99 years.

Assuming the property is sold, the PIL group of companies, which occupies some space in the Cecil Street building, is expected to lease back the space in the short term.

Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:

 /  🏆 15. in RU
 

Спасибо за ваш комментарий. Ваш комментарий будет опубликован после проверки

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

Trio of Geylang shophouses put on market with S$12m guide priceTHREE adjoining conservation shophouses at 223, 225 and 227 Geylang Road are up for sale collectively by expression of interest with a guide price of S$12 million, exclusive marketing agent CBRE said on Monday. Read more at The Business Times.
Источник: BusinessTimes - 🏆 15. / 51 Прочитайте больше »