Midlink Plaza in Middle Road has been sold for S$126.8 million to 122 Middle Investment, marketing agent Credo Real Estate said yesterday.
Shareholders of 122 Middle Investment include Millennium Land, an associate company of Singapore-listed Lian Beng Group, which plans to redevelop the site into a hotel, Credo added.
122 Middle Investment has made an outline planning permission application to the Urban Redevelopment Authority, which said it was prepared to support the redevelopment of the site into a 16-storey hotel or commercial development.
Midlink Plaza currently comprises 79 strata-titled retail and office units, with a total gross floor area of 128,076 sq ft. The 99-year leasehold site has a remaining lease of about 68 years.
Source : Today – 8 Oct 2011