Solitaire on Cecil’s ninth floor sold to China buyer at S$51.48million
Bloomberg states that Shanghai Langning Trade Co. is a metal company. They manufacture and sell copper, aluminum, zinc and other related materials.
Long Twinkle Trading (founded in November 2022) recently signed a purchase and sale agreement for the 9th floor of Solitaire at Cecil.
It was initially reported that the strata retail and office project had been completely sold. Developers put three office floors, including the 9th floor, on the market late last.
Rumors have it that the parties from Fujian, who had started the process of purchasing the three floors (levels 8, 9 & 13), were tied to the Singapore police investigation into the S$3Billion money laundering scandal.
Solitaire on Cecil will be developed on the site of the former PIL Building by a partnership between TE Capital Partners, LaSalle Investment Management and TE Capital Partners. Strata sale began in early 2012; by mid-June all 15 offices floors and both restaurants units of the 20 storey development had been sold.
All 14 of the office floors sold above S$4,000/psf except for the level 6 which was S$3,865/psf. The penthouse floor at level 20 sold for S$4,325/sf.
Most of the 12,465 or 13,132 sq. ft. office floors are located in the 127 metre-high building.
The Business Times is aware that level 8, also measuring 12,465 sq. ft., is the subject of due-diligence by a prospective buyer. Level 13 has an area of 13,132 square feet.
Solitaire on Cecil is expected to have 190 000 sq ft in total office space. There will also be two strata-restaurant units on the street. The development has dual frontages, on Cecil Street (and Stanley Street).
meyer blue balance units chart
Developers put the three office floors in the project back on sale late last year.
The Solitaire on Cecil freehold development’s ninth floor has sold for S$51.48M, or S$4,130/sq ft based on a strata area 12,465 square feet.
The buyer, Singapore-incorporated Long Twinkle Trading, is involved with the wholesale of metals and metal ores. Shanghai Langning Trading Co owns the entire company. The address of the company is in China (Shanghai Pilot Free Trade Zone).
