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Far East in Ubi property sale and leaseback deal for $22.5 mil

Property

Far East in Ubi property sale and leaseback deal for $22.5 mil

Samantha Chiew Published on Thu, Oct 05, 2017 / 7:05 PM GMT+8

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SINGAPORE (Oct 5): Far East Group has entered into a sale and leaseback agreement with Moduslink for the property at 51 Ubi Avenue 3.

Far East is acquiring the property for $22.5 million, after which Moduslink will lease back the entire third floor of the building, measuring up to about 75,000 sf, for $135,000 per month.

Far East says the acquisition will help consolidate its operations which are currently being carried out at various locations in Singapore.

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