Top Global purchasing property at Lorong Mambong for S$13m, Companies & Markets

Tue, Aug 28, 2018 – 7:13 PM

TOP Global’s wholly-owned subsidiary Holland V Investment Holdings has exercised an option with Bhajis Holdings and Lawson Investment Holdings to purchase a property in Singapore for S$13 million. The property, along Lorong Mambong, has a total area of about 2,860 square feet with a freehold tenure. A 5 per cent deposit of S$650,000 has been paid and the balance 95 per cent will be paid when the acquisition is complete. Top Global said that the purchase will be funded by internal resources and bank loans.It added: “This acquisition is carried out in the ordinary course of the group’s property investment and development business and represents a rare opportunity for the group to own a prime commercial asset in the heart of Holland Village, a retail, entertainment and food and beverage hub. The group will seek to maximise the value of this investment by considering the various options to lease the property.”