GSH Corporation sells 9 office units at PLUS Singapore for $38.8m

The book value of the property is $27.1m.

GSH Corporation will dispose of nine strata units of office at PLUS Singapore located on Cecil Street, Raffles Place for a consideration of $38.8m.

In a bourse filing, GSH said the buyer is an “unrelated party and does not have any shareholding interest, direct or indirect, in the company or the group.”

Under the terms of the sale and purchase agreement (SPA), the purchaser shall pay GSH Corporation a deposit of $3.88m upon signing the deal.

The purchaser will pay the remaining balance of $34.92m upon completion of the disposal.

GSH expects to complete the disposal within two months from the date of the SPA.

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