Strong investor interest expected for Singapore Technologies Building

The Singapore Technologies Building in the Tanjong Pagar precinct is up for sale.

Property consultancy Jones Lang LaSalle expects proposed bids to reach above S$150 million.

These bids will likely come from developers or private buyers.

The 13-storey freehold building occupies a site of over 19,400 square feet, on the corner of Cantonment and Lim Teck Kim roads.

Jones Lang LaSalle believes the building will attract strong interest from investors like developers and private buyers, given the upbeat economic climate.

It added that the positive financial sentiment is also driving strong rental and capital value growth in commercial space.

Interested investors must make their submissions by November 4.

Source : Channel NewsAsia – 6 Oct 2010

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