>

>

Cortina Holdings to buy entire fourth floor of 15 Scotts Road for $49 mil

By Goola Warden

/ The Edge Singapore |

October 7, 2022 1:21 AM SGT

The building at 15 Scotts Road (Photo: Cushman & Wakefield)

EDGEPROP (SINGAPORE) - Cortina Holdings announced on Oct 4, it has been granted the option to buy the entire fourth level of 15 Scotts Road. The size is 1,276 sqm (13,735 sq ft) and the cost is $49 million. The vendor is the Singapore Institute of Management.

"Currently, our Group’s offices in Singapore operate from leased premises, some of which leases would terminate in the near term. We also envisage organic growth of our Group in the near term which in turn would increase our Group’s requirement for office space. Instead of renting such office space, we have been considering acquiring the same. The Property would be able to satisfy our Group’s need for office space in the near term when the existing tenancies to which the Property is subject terminate at the end of their terms," Cortina says.

The acquisition will cause net tangible assets to rise by 1 cent to $1.90, and for net profit to inch higher to $69.096 million from $68.773 million on a pro forma basis.

Check out the latest listings near 15 Scotts Road

Tags:

Scotts Road Cortina Holdings

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Novo Place hits 88.1% as 137 units snapped up in second balloting

3

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

4

Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00