Suntec Reit Divest 9 Penang Road

This is a 10-storey Grade A commercial building with a NLA of 399044 sq ft. Suntec REIT Divests 9 Penang Road for S2955 million.

Suntec Reit Sells 30 Interest In 9 Penang Road For S 295 5m Cre Herald

Reflects Suntec REITs interest in the property.

Suntec reit divest 9 penang road. Based on the latest valuations conducted. DPU remains unchanged as no income contribution from 9 Penang Road was declared in FY 2020. S985m S2468 per sq ft or at an implied stabilised net yield of 33.

Suntec REIT has announced the divestment of its 300 interest in 9 Penang Road to Haiyi Holdings at an agreed property value of SGD2955 million. Achieves 305 Return on Investment. Suntec REIT Disposes 30 Stake In 9 Penang Road Mixed-use Project.

Suntec REIT has divested its 30 interest in a property located at 9 Penang Road to Haiyi Holdings for 2955 million. Commenting on the divestment The divestment of Suntec City Office strata units coming on the back of the recent sale of 9 Penang Road and together with the acquisition of The Minster Building is the result of our active portfolio management to enhance unitholders value. Divestment of 300 Interest in 9 Penang Road.

Based on pro forma financial effects of the divestment for FY 2020 assuming the divestment was completed on 1 January 2020. At an agreed property value of S2955. Suntec REIT has divested its 30 stake in 9 Penang Road formerly known as Park Mall to Haiyi Holdings at an agreed property value of 2955 million or 2468 per sq ft psf based on the net lettable area NLA.

The divestment of 9 Penang Road is part of our proactive portfolio management strategy to enhance unitholders value Chong. The buyer will pay about S899 million for the 15 million ordinary shares and 678 redeemable preference shares that Suntec Reit held in the joint venture JV company which indirectly owns the property. The agreed property value was S2955m S9850m on a 100 basis or S2468 psf NLA and translated to an exit NPI.

Suntec REIT announced in mid-Jun this year that it had successfully divested its entire 30 interest in the property located at 9 Penang Road to Haiyi Holdings Pte. The property has a total net lettable area of 399000 sq ft with a committed occupancy of 987 as at Mar 2021. Includes JV income from 9 Penang Road which was divested on 16 June 2021.

At an agreed property value of S2955 million US221 million or S2468 US1847 per square foot psf based on the propertys net lettable area NLA. Suntec REIT announced it had divested its 30 stake in 9 Penang Road to its existing JV partner Haiyi Holdings Pte Ltd at an agreed property value of S2955m 100. For S2955 million or S2468 per square foot.

Committed occupancy for Singapore Overall including ancillary retail was 950. SUNTEC Real Estate Investment Trust Suntec Reit has sold its 30 per cent interest in 9 Penang Road formerly known as Park Mall to Haiyi Holdings. Suntec REIT - Divestment of Interest in 9 Penang Roadpdf Suntec REIT - Presentation Slides_Suntec REIT Divests Interest in 9 Penang Roadpdf Suntec REIT - Press Release_Suntec REIT Divests Interest in 9 Penang Roadpdf Total size 969K.

The agreed property value represents a 57 premium over the latest valuation of SGD9318 million and 303 higher than the total development cost of SGD7560 million. Suntec REIT said the agreed property value represents a 57 premium over the latest valuation of S9318 million and 303 higher than the total development cost of S7560 million. Suntec REIT has sold its 30 interest in 9 Penang Road UBS Singapore business hub to Haiyi Holdings Pte.

Divestment of 300 Interest in 9 Penang Road 16 Jun 2021 1823 Asset Acquisitions and Disposals. June 17 2021 Suntec REIT announced the divestment of its 300 interest in 9 Penang Road to Haiyi Holdings Pte. Based on the latest valuation conducted.

Looking forward Suntec REIT has revealed that it will derive income from joint ventures where it holds 30 interest in 9 Penang Road and 50 interest in Olderfleet. He added that the divestment of the Suntec City Office strata units the recent sale of 9 Penang Road and the acquisition of the Minster Building are part of active portfolio management to enhance unitholders value. 9 Penang Road is a newly completed Grade A commercial building.

Singapore 16 June 2021 Suntec REITis pleased to announce the divestment of its 300 interest in 9 Penang Road to Haiyi Holdings Pte. Ltd according to a Singapore Exchange SGX filing published on Wednesday. Suntec REIT divests stake in 9 Penang Road property for 2955 mil The commercial building was developed through a JV between Suntec REIT Singhaiyi Group and Haiyi Holdings.

The building is located along Orchard Road precinct and is within walking distance to. The cost of the acquisition will be financed with the proceeds from divesting the 9 Penang Road property earlier this month and the proceeds from the Suntec City Office units divestment as well as the proceeds of perpetual securities issued mid-June andor a pound-denominated loan the REIT said. Asset Acquisitions and Disposals.

In terms of valuation it is now trading at above average in PB Ratio and. The agreed property value represents a 57 premium over the latest valuation of S9318 million. The ten-storey development consists of two towers with office space across eight floors and retail space at the first level.

SINGAPORE Suntec REIT has sold its 30 percent interest in 9 Penang Road a 10-storey mixed-use development comprising 2 office towers and ancillary retail to joint venture JV partner Haiyi Holdings Pte. 9 Penang Road is a ten-storey Grade A office. The property is the former site of Park Mall which was redeveloped into a commercial building through a JV between Suntec REIT Haiyi Holdings and SingHaiyi Group.

He added that the divestment of the Suntec City Office strata units the recent sale of 9 Penang Road and the acquisition of The Minster Building are part of active portfolio management to enhance. Suntec REIT has sold its 30 percent stake in Swiss bank UBSs Singapore headquarters for S2955 million 2202 million in a transaction that puts the owners of SingHaiyi Group in full control of the recently renovated asset. This translates to a price of 2468 psf based on the propertys NLA.

Reflects Suntec REITs interest in the respective properties. Resilient Office Segment Continue to Anchor Suntec REIT.

Suntec Reit Sells 30 Interest In 9 Penang Road For S 295 5m Cre Herald