PERENNIAL Real Estate Holdings has led a consortium of vendors to sell a 70 per cent stake in TripleOne Somerset to Hong Kong-listed Shun Tak Holdings for S$350 million. Perennial, which will receive about S$101 million for the 20.2 per cent interest that it is selling, will retain a 30 per cent share in the office and retail development. The real estate developer said it will use its share of the...
TripleOne Somerset
Local property group Perennial Real Estate Holdings said on Tuesday (Aug 4) it has received planning permits for proposed enhancement works at TripleOne Somerset and AXA Tower. The plans for TripleOne Somerset, a predominantly-office cum retail development off Orchard Road, include increasing the retail area and converting up to 32,000 square feet of gross floor area into medical suites. Perennial also...
Singapore-based real estate investment house Pacific Star said on Thursday that the former Singapore Power Building is expected to open in January 2010. Now renamed TripleOne Somerset, the building is undergoing a S$50 million comprehensive facelift. The 32-year-old building, which Pacific Star acquired in February 2008, will introduce a revamped, striking frontage. The refurbished facade includes the...