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.
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.