The Singapore-based developer has acquired the Tanglin Shopping Centre on Orchard Road for $645.6M.
The news has been revealed by Pacific Eagle’s marketing agent Savills Singapore to local media, and the deal marks Tanglin’s fourth collective sale attempt, according to Savills’ Managing Director of Investment Sales and Capital Markets, Gavin Tan.
Spanning 68,512sq ft and 12 storeys, with two basement levels and an annex eight-storey car park, the property boasts a key location close by to the Orchard Boulevard and Orchard MRT stations. Situated within close proximity to the St Regis Hotel in the Orchard Road enclave, Tanglin Shopping Centre is known as one of Singapore’s earliest retail landmarks.
Pacific Eagle Director, Sun You Ning, said: “Pacific Eagle Real Estate is honoured to have the opportunity to create an iconic development befitting the property’s heritage and its frontage along with one of our island’s most important streets.”
