SINGAPORE (July 10): Frasers Commercial Trust (FCOT) is divesting 55 Market Street, its 16-storey commercial property at Raffles Place, to an unnamed third party for $216.8 million.

In a Tuesday filing, FCOT’s manager says the consideration sum is equivalent to $3,020 per sq ft based on the building’s net lettable area (NLA) of 71,796 sq ft as at end-March, and represents a 44.5% premium above its $150 million valuation as at 1 July.

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