Metro Holdings buys 7 & 9 Tampines Grande for $45.6m

It inked a 50-50 joint venture deal to buy the eight-storey property.

Metro Holdings subsidiary Metrobilt Construction entered into a 50-50 joint venture with SRIF GP to buy 7 & 9 Tampines Grande, a premium Grade A office property in Singapore, for a total purchase consideration of $45.6m, an announcement revealed.

The property, two blocks of eight-storey office towers linked by a double-volume entrance lobby with retail and F&B outlets on the ground floor, has a site area and gross floor area of approximately 86,110 sqft and 361,660 sqft respectively.

The property is situated in Tampines Regional Centre (TRC) and is 25 minutes away from the Central Business District (CBD) and a 10-minute drive from Changi Airport. The Tampines MRT Interchange Station that is part of both East-West line and Downtown line is within five minutes’ walk, with one of the station’s exits directly opposite the property.

The property has a total net lettable area of approximately 288,000 sqft and has achieved approximately 91% of committed occupancy rate. Tenants include Hitachi Asia, Aldwych International, NCR Asia Pacific, AIA Singapore, and Sysmex Asia Pacific.