The property was marketed by Mount Everest Properties.
LHN (SGX:41O
) has agreed to buy GSM Building in a collective sale for $80 million, with an eye to convert some of the space in this commercial building along Middle Road into serviced apartments as part of its broader expansion into this market.
GSM was relaunched for collective sale in January this year, with a guide price of $85 million. The property was first put up for collective sale in August 2022, with an earlier attempt back in 2020 and an asking price of $98 million.
