Hong Kong on Saturday hit back at the United States over its latest sanctions on six pro-China officials, slamming the move as "insane, shameless and despicable".
A consortium led by Singapore-listed construction and property development company Lian Beng Group, announced that it has entered into a put and call option agreement to purchase the BreadTalk HQ Building for $118 million.BreadTalk's HQ at 30 Tai Seng Road has a double frontage along Upper Paya Lebar Road and Macpherson Road (Photo: Lian Beng Group)Lian Beng holds a 75% stake in the consortium, with Apricot Capital, the investment arm of Super Group's Teo family, taking a 20% stake. Meanwhile, 32RE, the fund management business co-founded by Matthew Ong, CEO of SLB Development, holds a 5% stake.The BreadTalk HQ Building is a 10-storey, single-user industrial development with retail component on the first level, located at 30 Tai Seng Street. The building has a gross floor area of about 248,902 sq ft, including the retail units.The building has double frontage along Upper Paya Lebar Road and Macpherson Road, and is within walking distance from Tai Seng MRT station. The building was designed by award-winning local architect Tan Kay Ngee, and serves mainly as BreadTalk Group’s international headquarters, housing its flagship retail brands, corporate offices, warehouse spaces as well as test and central kitchens. There are other third-party tenants among the occupants in the building.BreadTalk Group’s international headquarters, housing its flagship retail brands, corporate offices, warehouse spaces as well as test and central kitchens (pictured above) are located within the building (Photo: Samuel Isaac Chua/EdgeProp Singapore)The property sits on a piece of land with a 30-year lease commencing from Feb 1, 2010, with an option to extend for a further 30 years.BreadTalk Group has committed to lease back the property as an anchor tenant for an initial lease term of 10 years, with an option to either buy back the property at the end of the lease; or to extend the lease for a further five years at the prevailing market rent.“We are pleased to kick off 2021 by adding an attractive property to our investment portfolio,” commented Ong Pang Aik, chairman and managing director of Lian Beng Group. “The acquisition will extend our investment footprint in industrial real estate and help to diversify our property portfolio.” He expects the property to yield positive rental returns, in addition to potential capital appreciation over the longer term.Ong: The acquisition will extend our investment footprint in industrial real estate and help to diversify our property portfolio (Photo: The Edge Singapore)Meanwhile, George Quek, BreakTalk Group’s chairman and group CEO, says the transaction is part of “our capital re-allocation strategy towards a more asset-light model as we continue to focus on our core F&B business”.In late December, BreadTalk’s subsidiary, Imagine Properties, divested its shophouse at Lorong Mambong for $17.2 million to Cheong Sim Lam.See Also: Singapore Property for Sale & Rent, Latest Property News, Advanced Analytics Tools New Launch Condo & Landed Property in Singapore (COMPLETE list & updates) [UPDATE] Matthew Ong of SLB Development buys Thye Hong Centre for $112.5 mil BreadTalk boss offers prime shophouses for sale; Macly Group’s Tedge commercial units open to single buyer from $18 mil SLB Development enters fund management; bullish on co-living, industrial space En Bloc Calculator, Find Out If Your Condo Will Be The Next en-bloc HDB Resale Flats Up For Sale, Affordable Units Available
MOH has confirmed the detection of 30 new cases of COVID-19 infection in Singapore as of noon on Sunday (17 January).
Manchester United midfielder Bruno Fernandes has told Liverpool boss Jurgen Klopp to stop moaning about the number of penalties given to Ole Gunnar Solskjaer's side.
China will donate one million doses of its Sinovac coronavirus vaccine to Cambodia, the kingdom's strongman premier Hun Sen has said, thanking "friend" Beijing for its generosity.
Facing a potentially hostile US administration, Turkish President Recep Tayyip Erdogan is trying to break his isolation by mending EU relations, torn by what the bloc views as his bellicose foreign policy.
Hours after an angry mob of Trump supporters took control of the U.S. Capitol in a violent insurrection, Selena Gomez laid much of the blame at the feet of Big Tech. “Facebook, Instagram, Twitter, Google, Mark Zuckerberg, Sheryl Sandberg, Jack Dorsey, Sundar Pichai, Susan Wojcicki — you have all failed the American people today, and I hope you’re going to fix things moving forward.”
The Ministry of Health confirmed 24 new COVID-19 cases in Singapore on Saturday (16 January), taking the country’s total case count to 59,083.
Mason Mount put Chelsea back on track with the late winner that sealed a vital 1-0 victory at 10-man Fulham, while Leicester moved up to second in the Premier League thanks to a 2-0 win over Southampton.
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US Secretary of State Mike Pompeo on Friday imposed sanctions on three of his primary targets -- China, Iran and Cuba -- in a last-minute push aimed in part at boxing in President-elect Joe Biden.
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Emirates has suspended flights to Australia's three largest cities as the country further restricts international arrivals over fears of new virus strains.
All travellers, including Singaporeans and permanent residents, will have to take a COVID-19 test upon arrival into Singapore from 11.59pm on 24 January.
By the time Joe Biden is sworn in as the 46th US president Wednesday, his scandal-tainted predecessor Donald Trump will already be far away, having helicoptered out of the White House a last time earlier that morning, an official said Friday.
The lead US negotiator of the Iran nuclear accord and a battle-tested hawk on Russia were named Saturday to top posts in President-elect Joe Biden's State Department, signaling a return to a more traditional, multilateral approach after Donald Trump's chaotic presidency.
Looking for Hong Kong stocks with good growth potential? Here are three you can consider adding to your watchlist. The post 3 Hong Kong Blue-Chip Companies I would Buy appeared first on The Smart Investor.
Chief Kremlin critic Alexei Navalny was flying back to Russia on Sunday for the first time since a near-fatal poisoning attack last summer, facing the threat of imminent arrest after his plane lands in Moscow.
Federal officials are investigating people who took part in the riot at the U.S. Capitol to determine whether they should be barred from traveling on airlines. The assessments are one of several steps federal agencies are taking to increase security before President-elect Joe Biden's inauguration next week. The Transportation Security Administration said Friday it will put more air marshals on some flights, and travelers will see a noticeable increase in police officers, bomb-detecting dogs and random screening at all three major airports in the Washington, D.C., area.
Standard Chartered is expected to cut several hundred staff next month across its global businesses, according to people familiar with the matter.