Income Insurance sells 30 Prinsep Street for S$147 million
The price works out to about S$3,000 psf on the net lettable area for the 999-year leasehold building
Income Insurance is said to have sold its 11-storey, 999-year leasehold commercial building at 30 Prinsep Street for about S$147 million.
The price reflects about S$3,000 per square foot on the 48,974 sq ft net lettable of the property, which is a stone’s throw from Bencoolen MRT station on the Downtown Line. A short distance away are Bras Basah station and Dhoby Ghaut MRT interchange station.
The buyer is understood to be an entity linked to the Lim family of Midview group, which has developed commercial and industrial properties including Midview City in Sin Ming Lane.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US single-family housing starts, permits fall in April
Strong demand for ECs could spur competition for Pasir Ris GLS site
Punggol Digital District to open from Q3 with 65% of space pre-committed
Retail units at 20 Cecil Street for sale from S$3.8 million
China property stocks gauge jumps on proposal for home purchases
ESR eyes fourth data centre in Japan