Lian Beng Group to sell commercial building at Joo Chiat Road for $42 mil

By Atiqah Mokhtar / EdgeProp Singapore | September 14, 2022 2:22 PM SGT
The property is a freehold four-storey commercial building with an attic and a basement carpark. Photo: Samuel Isaac Chua/The Edge Singapore
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SINGAPORE (EDGEPROP) - A freehold commercial building at 381 Joo Chiat Road owned by Singapore-listed Lian Beng Group is being sold for $42 million.
The property is a four-storey commercial building with an attic and a basement car park. It has a gross floor area of 24,714 sq ft. In a filing to the Singapore Exchange on Sept 8, the group states an option has been granted for the sale of the property to an unrelated third party. (Find Singapore commercial properties with our commercial directory)
Map of 381 Joo Chiat Road - EDGEPROP SINGAPORE
Map of 381 Joo Chiat Road (Source: EdgeProp LandLens)
Lian Beng had acquired the property in a buy-and-leaseback deal in March 2018 for $27 million. The property was purchased and leased back to vendor TTAT Investment for five years.
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