Singapore property company Lian Beng Group announced on Mar 12 that it is acquiring OCN Building at Joo Chiat Road in a buy-and-leaseback deal, for $27 million plus GST.

The four-storey commercial building with attic and basement car park has a gross floor area of 24,714 sq ft. It will be leased back to vendor TTAT Investment for five years from the completion date of the acquisition, with an option to renew for another three years.