Chevron House

Five strata lots for retail and office use spanning seven storeys at 30 Raffles Place have been launched for sale by joint marketing agents JLL and Cushman & Wakefield. The building, formerly known as Chevron House, is undergoing comprehensive asset enhancement initiative (AEI) works, after property developer Oxley Holdings agreed to sell it to Golden Compass, the investment vehicle of US-based real...

Oxley Holdings will complete asset enhancement initiative (AEI) works on Chevron House and expects to achieve final completion of the sale of the 32-storey Raffles Place commercial building no later than the first quarter of 2020. It will also divest the retail and banking units "as soon as practicable, taking into consideration market conditions" but will do so before the final completion, the...

Property developer Oxley Holdings announced on Tuesday morning that it has signed a deal to sell Chevron House for up to S$1.025 billion, just 16 months after acquiring the prime office building in Raffles Place for S$660 million in December 2017. Oxley said that on April 29, it entered into a sale and purchase agreement with Golden Compass (BVI) for the latter to buy the entire interest in its wholly...

Germany’s Deka Immobilien has bought a Singapore office tower for about US$420 million ($545.5 million), broker Savills said on Tuesday, in a deal that crystallises a hefty loss on the price paid by owner Goldman Sachs in 2007. “The transaction reflects a 30% discount from the peak pricing of 2007 and prime rental levels remain approximately 50% below their peak in 2007,” said Craig Ward, a director...

Chevron House at Raffles Place has been sold for $547 million to a fund management Deka Immobilien of Germany, taking the total value of Singapore office investment sales deals this year to around $3 billion. The price works out to around $2,083 per square foot based on the net lettable area (NLA) of 262,650 sq ft. Formerly known as Caltex House, Chevron House is a 33-storey building on a site with a...

CapitaLand has sold its entire 50 percent stake in Chevron House for over S$366 million. When the deal is done, the property developer will book a gain of S$151 million on the investment. Chevron House is an office building in the banking and financial district of Raffles Place. It was formerly known as Caltex House. CapitaLand has been taking advantage of the buoyant office property market to divest...