CapitaLand says it has entered into a sale and purchase agreement with Guthrie-SV for the divestment of 163 strata-titled units in The Adelphi for $218.132 million.

The 163 strata-titled units, comprising 86 office units and 77 retail units, totalling 16,543 square metres represent 55.13% of the total share value of The Adelphi.

The book value of the 163 strata-titled units is $200 million as at November 2010. 

CapitaLand expects to recognise a profit of $15.7 million after tax upon the completion of the sale, which is expected to take place by Jan 28.

Located at 1 Coleman Street, Singapore, The Adelphi is a 999-year leasehold 10-storey mixed-use building comprising a five-storey retail podium and a six-storey office block with four levels of basement parking.

 

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CapitaLand (CATL.SI), Southeast Asia’s largest property developer, said it had sold units at a Singapore property for a total of $218 million.

The company sold 163 units comprising 86 office units and 77 retail units at a property in downtown Singapore, and expects to recognise a profit of about $15.7 million after tax, it said in a statement.

The sale is expected to be completed by Jan 28, 2011.