Wilkie edge is located on a site that has an estimated balance term of approximately 81-years ending February 20, 20105.

Citadines Mount Sophia is a 12-storey apartment complex located on the corner of Wilkie Road and Selegie road. It includes the Lian Beng-Apricot JV’s retail and office space, as well as 154 apartments.

CapitaLand Ascott Trust has leased the serviced hotel/residence for the remaining site lease (less one day).

Keppel Capital is the asset-management arm of Keppel Corporation and will take over all existing rights and responsibilities pertaining to this lease. It’s similar to what Lian Beng did and Apricot when they bought Wilkie Edge six years back.

Wilkie edge is nearly fully occupied. Kaplan, Stone Forest and other major tenants are among the most important.

Keppel Capital was reportedly sold the Wilkie edge office and retail area in Selegie by a Joint Venture (JV) formed between Lian Beng Group & Apricot Capital.

The Business Times believes that the price for this project is near S$350 million. This translates to S$2,200 or more per square foot. The area is about 154.500 sq ft, and it consists mostly of offices.

The Lian Beng-Apricot JV purchased the asset for S$280m in 2017. It was acquired from CapitaLand Commercial Trust. The JV has reportedly done minor refurbishments on the asset.

Apricot Capital was established by the Teo Family, who founded Super Group – the three-in one coffee empire.

Lentor Hills Residences Floor Plan

CapitaLand has sold Wilkie Edge since 2008 to CCT. CCT will merge with CapitaLand Mall Trust in 2020 to create CapitaLand Integrated Commercial Trust.

Separately there are ongoing negotiations for the sale of Hotel G Singapore by Gaw Capital Partners, based in Hong Kong. The hotel is located on Middle Road/Bencoolen Street and will fetch approximately S$235,000,000.

CapitaLand Group, it is thought, may be involved with the potential buyer.

The majority of rooms at the hotel, which is a freehold property, are approximately 12 square metres.

The 16-storey property has a gross floor space of approximately 94.600 sq ft. While the development potential of the property has been maximised there is still the option to add value through the conversion of some of the space in the fourth-floor car park into additional hotel room.

Market rumours suggest that the price Keppel Capital paid translates into an approximate net yield of 3 per cent. Observers expect that the incoming owner will optimize the asset by implementing asset enhancement initiatives.

CBRE is said to have sold Wilkie Edge’s retail and office space by private contract.

CapitaLand has developed Wilkie Edge at the former Selegie Complex. Selegie Complex was a part of Pidemco Land portfolio which, in 2000, merged with DBS Land into CapitaLand.