CapitaLand Commercial Trust (CCT) announced this week their sale of Twenty Anson, at 20 Anson Road Singapore 079912, to an unrelated third party.
At a price of S$516 million, the property is 19.2% above the property’s valuation of S$433 million.
The sale price represents S$2,503 psf on the building’s net lettable area of approximately 206,000 sqft.
This represents a sizable profit to CCT, considering the purchase of the property was less than 10 years ago, in 2012.
On 22 Feb 2012, CCT announced the acquisition of Twenty Anson which was valued at S$431 million.
Even though the absolute profit amount is sizable at S$83 million, the annual return since 2012 isn’t much at just 2.9%, or just meeting inflation.
With rental returns and leverage taken into account, the returns is likely to be higher than 2.9%, though not gangbusters.
Twenty Anson is a 20-storey prime office building in Tanjong Pagar …