CapitaCommercial Trust (CCT) has been given a call option to buy the 1 George Street building for nearly S$1.2 billion. This translates to S$2,600 per square foot of net lettable area. CapitaLand will also provide yield protection to CCT, ensuring a minimum net property income of some S$50 million per annum. This means a net property yield of 4.25% per annum on the purchase price for five years until...
1 George Street
CapitaLand has acquired the remaining 50 percent stake in Eureka Office Fund for S$590.6 million. The fund owns the commercial building known as 1 George Street and 163 strata-titled units in The Adelphi. It also owns a 20 percent interest in Temasek Tower. CapitaLand says the transaction is not expected to have any material impact on its net tangible assets or earnings per share for this financial...