>

Top Global to acquire South Bridge Road shophouse for $26.5 mil

By Stanislaus Jude Chan

/ The Edge Singapore |

November 6, 2017 10:17 AM SGT

Join our Telegram channel and follow our Facebook for the latest update.

SINGAPORE (Nov 6): Top Global says wholly-owned subsidiary Holland V Investment is seeking to acquire a three-storey conservation commercial shophouse with attic around Chinatown for $26.5 million.

The group on Friday received acceptance for the Letter of Offer given to the vendor, Eu Realty (Singapore), for the purchase of the property at 273 and 275 South Bridge Road.

The property has a combined gross floor area of approximately 10,027 sqft with a tenure of 999 years.

The group says the purchase represents an opportunity for it to own strategically positioned commercial properties in the heart of Singapore’s Central Business District and Chinatown-Telok Ayer Conservation Area.

It intends to maximize the investment through asset enhancement by leasing the property to hostel operators under its 5Footway Founders group of subsidiaries.

The purchase will be funded by internal resources and bank loans.

Top Global says the purchase is not expected to have any material impact on its net tangible assets or earnings per share for the financial year ending Dec 31, 2017.

This story, by Stanislaus Jude Chan, first appeared on The Edge Singapore.

Tags:

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Sapphire Windows’ Liews: Beyond providing a room with a view

2

Keeping cool in an east-west-facing house with modern glass windows

3

Far East Shopping Centre’s $908 mil en bloc deal aborted

4

World’s largest Mercure Hotel opens on Club Street

5

Luxury living in the new heart of Bukit Timah

Our Site

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.