Raffles Medical Group announced that it has appointed Jones Lang LaSalle Property Consultants to advise and manage the sale of its commercial property at 30 Bideford Road.
Raffles Medical bought the building in 2011 for S$92 million.
Located at Bideford Road off Orchard Road, the seven-storey commercial podium of Thong Sia Building is owned by Raffles Medical Management, a wholly-owned subsidiary of Raffles Medical Group.
According to reports, the company had put up the strata units for sale as the authorities had twice rejected Raffles Medical’s application to change the use of the commercial podium to a specialist medical practice.
When contacted by MediaCorp, Raffles Medical and Jones Lang LaSalle declined to comment.
Source : Channel NewsAsia – 10 June 2013