Chevron House, a commercial building located near the entrances to the Raffles Place MRT station, is reportedly available for sale. The building owner, Deka Immobilien GmbH — a unit of DekaBank Group of Germany — bought the premises in 2010 for around S$420M. The previous owner was a Goldman SachGroup-managed property fund.
The market price was understood to be S$700M based on anonymous sources. Recent prominent completed commercial deals includes:
– S$2.6B bid led by Malaysian IOI on a Marina Bay white site
– Sale of Sime Darby Centre in Bt Timah area by Blackstone to Tuan Sing
– Purchase of Wilkie Edge from Capitaland by Lian Beng Group
Chevron House is a skyscraper building in CBD housing Chevron Corp. The 262,650 sqft building consists of a 4-storey retail podium with a basement as well as a 29-storey office block.