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Lian Beng to buy building from Food Empire for $49.25 million

The Edge Singapore
The Edge Singapore6/9/2022 10:15 PM GMT+08  • 2 min read
Lian Beng to buy building from Food Empire for $49.25 million
Food Empire will see its NTA per share increase from 40.46 cents to 43.12 cents
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The Lian Beng Group is buying a freehold industrial building now held by Food Empire Holdings for $49.25 million.

The 11-storey building, at 31 Harrison Road, has a gross floor area of 4,890.24 sqm and is now fully tenanted.

With the sale, Food Empire, which has seen the value of this asset appreciate over the years, will book a gain of around $20.54 million.

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