Nineth floor of Solitaire at Cecil sold for S$51.48million to a Chinese buyer
The developer put three floors back on the market in late 2017 as part of the same project.
The ninth floor of Solitaire on Cecil, a freehold development in Singapore, has been sold at S$51.48mil or S$4,130 a square foot (based on Strata Area of 12,465 sqft).
The buyer, Singapore-incorporated Long Twinkle Trading, is involved with the wholesale of metals and metal ores. Shanghai Langning Trading Co is the sole owner of the company, whose address is located in China’s Pilot Free Trade Zone (Shanghai).
Bloomberg reports that a Shanghai Langning Trade Co is a metals company. It manufactures and distributes copper, zinc and aluminium, among other products.
Long Twinkle Trading was established in November 2022 and recently entered into an agreement to sell and buy the ninth floor at Solitaire on Cecil.
Previously, it was reported that the strata office project and retail project had been sold out. The developer put three floors of office space, including the ninth floor, back on the marketplace late last year.
The word on the street was that the parties from Fujian who initiated the purchase of the three levels – 8, 9 and 13, were connected to the Singapore Police probe into the S$3 Billion money laundering case.
Solitaire on Cecil, a joint venture between TE Capital Partners (formerly PIL Building) and LaSalle Investment Management is being developed on the former PIL Building. Strata sales started early last year. By mid-June buyers had been found for both the restaurant and all 15 floors of the 20-storey building.
The other 14 floors of the building, except for level 6, sold for more than S$4,000 per square foot. The penthouse level 20 office floor sold for S$4,325 per square foot.
The majority of the office floors in this 127-metre high project are either 12,465 square feet or 13,132 square feet.
The Business Times has learned that a potential purchaser is currently conducting due diligence on level 8, which also measures 12,465 square feet. The strata area for level 13 is 13,132 sq ft.
Solitaire on Cecil has a total of 190,000 square feet of office space and two strata restaurants at street level. The development will feature dual frontages along Cecil Street as well as Stanley Street.
