Cityneon to acquire Scorpio East Properties from KOP for $2.9 mil

SINGAPORE (Dec 15): Cityneon Holdings has entered into a sale and purchase agreement to acquire the entire 100% interest in Scorpio East Properties from Catalist-listed KOP Limited for $2.9 million.

Scorpio East owns a 2,571 sqm leasehold property located at 25 Tai Seng Avenue in Singapore, also known as KOP Building, which has some 20 years left on its lease.

This is to be extended by another 29 years from the lease expiry date, subject to the fulfilment of certain conditions prescribed by Jurong Town Corporation (JTC).

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