CapitaLand Ascott Trust leases this serviced residence/hotel until the end of site lease.

Keppel Capital will assume all rights and obligations in relation to this contract, just as Lian Beng acquired Wilkie Edge around six years earlier.

CapitaLand Group appears to be the likely buyer.

Wilkie is almost 100% occupied. Kaplan Stone Forest, and Kaplan are major tenants.

In the market, it is said that the price Keppel Capital will pay translates to an estimated net yield (or return) of 3 percent. Observers are expecting the new owner to take asset enhancements to maximise the asset.

In 2017, Lian Beng-Apricot JV, a joint venture between Lian Beng and Apricot, paid S$280million for the asset. It had previously been acquired by the CapitaLand Commercial Trust. The JV is reported to have carried out some minor refurbishments of the asset.

Apricot Capital represents the family office for the Teos who founded Super Group, the three-in-1 coffee empire.

CBRE, it is believed, has mediated the sale of Wilkie Edge’s retail and office space.

Keppel Capital reports that a Joint Venture between Lian Beng Group Ltd and Apricot Capital entered into a contract to sell the Wilkie-Edge office and shop space located in Selegie to the JV.

Sceneca Residence condo

The Business Times estimates that the cost is approximately S$350,000,000. That’s about S$2,200 plus per square feet based on net lettable space of around 154.500 sq. ft., which includes mostly offices.

CapitaLand purchased Wilkie Edge for CCT in 2008. CCT merged CapitaLand Mall Trust into CapitaLand Integrated Commercial Trust by 2020.

Wilkie Edge sits on a land parcel with a remaining term of around 81years, ending in February 20th 2105.

Citadines Mount Sophia, which is located on Wilkie and Selegie streets at the corner, comprises not only office space and retail area owned by Lian Beng-Apricot JV.

Separately a deal is in progress to sell the Hotel G Singapore of Gaw Capital Partners based out of Hong Kong, located at Middle Road/Bencoolen Street. It will cost approximately S$235 million.

The majority (308) of the freehold hotels 308 rooms measure 12 square metres.

CapitaLand created Wilkie Edge, a new development on the site of Selegie Complex. Selegie Complex is part of CapitaLand’s portfolio.

The gross area of this 16-storey tower is 94.600 sq. ft. The development potential of this property has already been maximized. However there is still room to increase value by turning some of that parking area on the 4th level into hotel rooms.