Thakral acquires leasehold office property at The Riverwalk for $30 mil

timothy.tay@edgeprop.sg

Updated 23 May 2018 at 7:06 am

Singapore-listed Thakral Corporation has announced plans to acquire an 18,998 sq ft office property at The Riverwalk in Clarke Quay. The office unit is on the third floor of the 27-storey commercial and residential development, which has a 99-year leasehold tenure commencing December 1980. The Riverwalk office property is owned by Thakral Realty (S).

The office unit is on the third floor of Riverwalk, a 27-storey commercial and residential development (Picture: Samuel isaac Chua/The Edge Singapore)

In addition, Thakral Corp will purchase the entire shareholding of Thakral Realty (S), which has an outstanding loan of $21 million, for $9 million. Thus, the total consideration to acquire the property will be $30 million. The acquisition is part of the company’s plans to expand its investment portfolio in Southeast Asia.

The office unit is currently fully tenanted and has a valuation of $30.5 million, according to a recent valuation by JLL. Upon completion of the proposed acquisition, Thakral Corp will sign a three-year leaseback agreement with the tenants of the office unit. The monthly rent will be $5.50 psf, and the gross monthly rental will be about $101,739.

The Riverwalk comprises four-storey commercial space with basement shopping podium and a 21-storey residential tower.

The Telegraph
Beauty queen shot dead after octopus ceviche order led killers to restaurant
An Ecuadorian beauty queen was assassinated after her Instagram post of a plate of octopus ceviche led gunmen to the restaurant where she was dining.
INSIDER
A NATO country says it could join Ukraine's war with Russia if 2 conditions are met
French President Emmanuel Macron said France could send troops if requested by Ukraine in response to a Russian breakthrough.
CNN
China’s Shaolin monks are known for their incredible acrobatics. This photographer captured them in action
The photographer reflects on how he took the memorable shot back in 2004, in one of the martial arts academies that had sprung up near the Shaolin Temple.
The Telegraph
The trickle of companies leaving China is becoming a flood
In the context of a sprawling global leviathan that has just posted profits of $7.7bn (£6.1bn) in the last three months alone, Shell’s decision to close a small power generation unit in China amounts to little more than a rounding error on its books.
People
Rumer Willis Praises Mom Demi Moore's 'Bangin'' Bikini Body
"If my genetics are at least half that good, I'm solid," said Willis of her mother's "bangin'" body
INSIDER
Stormy unchained: Lawyers for Trump and porn star struggled to control her after hush-money story broke in 2018
Years-old text messages between attorneys for Donald Trump and Stormy Daniels were entered into evidence in Trump's hush-money trial.
The Guardian
‘A disgrace’: Ratcliffe reads riot act after visiting Manchester United facilities
Manchester United’s chief of football operations has railed at a ‘high degree of untidiness’ in the club’s offices and dressing rooms
People
Heartbreaking Story Behind Dad Who Added Daughter's Necklace to Headstone After His 3 Kids Were Killed (Exclusive)
Ray Simmons dedicates himself to maintaining the resting place of his son Christopher, 16, and daughters Kamryn, 15, and Lindy, 20
SETHLUI.COM
Northern Thai: Delicious ‘creamy’ tom yum by Thai superwoman worth the queue
The post Northern Thai: Delicious ‘creamy’ tom yum by Thai superwoman worth the queue appeared first on SETHLUI.com.
BuzzFeed
Spine-Chilling Stories: Nurses Recall Ghostly Encounters And Supernatural Experiences While On Duty
Hospitals...where the supernatural becomes super natural.
The Independent
Marvel boss warned Hugh Jackman not to return as Wolverine in Deadpool 3
Actor is reprising the role for the 10th time opposite Ryan Reynolds
Cosmo
EmRata's plunging gold gown is best described as melted butter
Emily Ratajkowski attended the 2024 The King's Trust Global Gala wearing a gold satin backless dress with a plunging neckline best described as melted butter.
Sky News
Bodies found in search for Australian brothers and US man missing on Mexico surfing trip
Bodies have been found in the search for two Australian brothers and a US tourist who went missing in northern Mexico. The remains were found south of Ensenada, near where the men - Jake and Callum Robinson from Australia and American Jack Carter Rhoad - went missing last weekend. The location where the bodies were recovered, close to the town of Santo Tomas in Baja California state, is near where the men went missing, Mexican authorities said.
The Independent
Heartbreaking video shows abandoned puppy chasing owners’ car after being dumped
Bear, a German Shepherd mix puppy is now being looked after at a Fresno rescue awaiting adoption
Twentytwo13
US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA
Microsoft's series of investments in Indonesia, Thailand, and Malaysia are not surprising, as the tech giant had earlier announced a US$10 billion investment in AI abroad. All eyes are now on the upskilling of the local workforce and the creation of economic opportunities for governments, businesses, and communities in the region. The post US$1.7b in Indonesia, Azure data centre in Thailand, US$2.2b in Malaysia: All eyes on spillover effect as Microsoft goes big in SEA appeared first on Twentytw
INSIDER
China has a lot more missiles — with US warships and bases in its sights
China has transformed its missile stockpiles and capabilities, shaping what war would look like in the Pacific, US military leaders and experts said.
Yahoo Life UK
My boyfriend dumped me after I cured his sex problem
Their sex life was blighted by his erectile dysfunction, but 10 months later, with the issue solved, he left her to play the field.
SETHLUI.COM
Char Siew Yoong: Pudu’s legendary buttery, melt-in-the mouth char siew continues to reign supreme
The post Char Siew Yoong: Pudu’s legendary buttery, melt-in-the mouth char siew continues to reign supreme appeared first on SETHLUI.com.
Fortune
Apple’s China sales tell a different story than what analysts have heard for months. Where is the disconnect?
Independent researchers painted a bleak picture of Apple’s China business during the most recent quarter, but the damage was lighter than expected.
The Guardian
Trump’s closest staffer takes the stand – and tears up after damaging testimony
On Friday, Hicks took the witness stand to testify against her former boss

Latest stories