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Thread: Popular buys 18 Shelford Road

  1. #1
    joe
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    Default Popular buys 18 Shelford Road

    Acquisition of property - 18 Shelford Road, Singapore

  2. #2
    Any complaints please PM me
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    May 2006
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    Default Popular Holdings pays $27.2m for Shelford property

    Published April 10, 2007

    Popular Holdings pays $27.2m for Shelford property

    By OH BOON PING


    POPULAR Holdings - better known for its book stores and publishing arms - said yesterday that it has bought 10 residential units at 18 Shelford Road for $27.2 million.

    The deal took into account various commercial factors including redevelopment potential and location, Popular said in a statement.

    Colliers International Consultancy & Valuation (Singapore) had pegged the open market value of the property at $27.3 million, it said.

    Popular will finance the purchase and proposed redevelopment internally and and through bank borrowings. 'While retail, distribution and publishing will remain the group's main business focus, property development will be a potential area of growth that the group is looking into, to capitalise on the potential and promising returns of the current property market,' it said in its statement.

    Earlier, Popular bought eight residential units with a total land area of 15,070 sq ft at 1 Robin Road, Seng Mansion.

    For the three months ended Oct 31, 2006, Popular reported a 9.4 per cent rise in net profit to $1.2 million. Turnover was up 6.4 per cent to $90.8 million.

  3. #3
    stick to selling books
    Guest

    Default Re: Popular buys 18 Shelford Road

    18 Shelford Road is also named Shelford Vale.

    Is Popular going to set up a bookstore there?

  4. #4
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    Default Popular buys second residential property

    Popular buys second residential property

    Johnson Choo

    [email protected]


    WHILE Popular Holdings is a household name for retail bookstores and education-related publications catering to the masses, the mainboard-listed company is also diversifying into high-end property development.

    Popular has just forked out $27.2 million for 10 residential units at 18 Shelford Road for redevelopment.

    The group says the purchase price and redevelopment cost at the Shelford Road site will be financed through internal sources and bank borrowings, but did not give further details.

    In an announcement on the Singapore Exchange yesterday, Popular said that "retail, distribution and publishing will remain as the group's core business", but it intends to "capitalise on the potential and promising returns of the current property market".

    Indeed, it wasted no time latching onto the booming high-end property scene.

    The group broke ground for One Robin, its first residential property development project, at Robin Road, last Monday.

    Popular bought the Robin Road site last May for $12.5 million for redevelopment into a 2,940 square metre (31,646 sq ft), targeted squarely at the high-end luxury market.

    With a contemporary facade and three-storey raised podium, One Robin will house a 17-floor tower, which includes a penthouse, a duplex unit and 12 typical units averaging 2,000 sq ft per unit on each floor.

    Pricing for the units will only be known when the development is completed and put up for sale towards the end of next year.

    The company indicated that it plans to use the proceeds to acquire a new headquarters for the group.

    In February this year, the group also tendered for the hotly contested 99-year leasehold commercial site at New Bridge Road/North Canal Road, which they lost out to Kim Eng Properties.

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