Another office block is sold in August. 137 Cecil Street, formerly known as Aviva Building, is been sold to a buyer from Shanghai. Surnamed Zhou, he had earlier looked at 158 Cecil Street and then 112 Robinson Road before turning his attention to 137 Cecil Street.
The property has a net lettable area of 67,550 sqft with floor plates of about 4800-5700 sqft. URa has granted written permission in July 2015 for two units on the first level to be used as restaurants.
Seller Cheong Sim Lam was understood to have asked S$220 million. Talk in the market is that the price was negotiated at the range of S$210-215 million. In June last year, Mr Cheong sold the next door Cecil House at 139 Cecil Street to a joint ventre between Vibrant Group and DB2 group. The 11-storey office block was valued at S$110 million, with a balance lease term of 66 years.