Far East Group grants buyer option to purchase Lavender Street property for $27 mil

SINGAPORE (Mar 24): Far East Group has granted Chang Hua Construction an option to purchase its property at 112 Lavender Street for $27 million.

The property is a four-storey building and occupies a land area of approximately 1,936 square metres. The property is a freehold estate and it serves as the regional headquarters of the group’s operations. As at Dec 31, 2017, the property has a net book value of $4.2 million.

The sale follows Far East's acquisition of the property situated at 51 Ubi Avenue 3 with the intention of making it the new regional HQ of the group’s operations.

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