Perennial Real Estate Holdings and SPH are acquiring additional stakes in Perennial Chinatown Point at about $8.5 million and $5.1 million respectively, from seller Charles Quay Intl. This translates to a purchase price of about $2,080 psf. Perennial Chinatown Point owns the six-storey retail podium and four strata office units at Chinatown Point, which sits on a land area of 99,203 sqft. The retail podium, which has two basement levels, comprises a total NLA of 208,798 sqft. The four strata office units have an NLA of 4,230 sqft. Following the acquisition, Perennial’s stake in Perennial Chinatown Point will increase by 5.49% to 50.64%, while SPH’s interest will increase by 3.33% to 30.68%. This means Perennial will continue to be the largest investor in Chinatown Point.... Continue Reading