SINGAPORE (EDGEPROP) - UOL Group has acquired KH Kea Building at 333 North Bridge Road for $79.3 million.
The nine-storey commercial building enjoys a 999-year leasehold tenure and occupies a total site area of about 4,684 sq ft, with a total gross floor area (GFA) of about 29,049 sq ft.
There is a further GFA of approximately 3,218 sq ft that may be built, says Edmund Tie, the sole marketing agent for the sale.
It is located on a corner plot with dual frontage along North Bridge Road and Cashin Street, with views of the iconic Raffles Hotel.
“The tender attracted very keen interest from a wide spectrum of end-users, investors and developers, both local and international, highlighting the rare availability and consistently strong demand for well-located prime commercial buildings. This also underscores Singapore’s position as one of the top cities for real estate investment,” says Swee Shou Fern, executive director of investment advisory at Edmund Tie.
Read also: