Sheng Siong buys Siglap V strata retail units and Toa Payoh HDB shop unit for $50.2 mil

Acquisition Details: Sheng Siong Group is acquiring eight retail units at Siglap V and an HDB shop unit in Toa Payoh from Jelita Property for a total of approximately $50.2 million, which is above the initial guide price. The acquisition includes a leaseback arrangement where DFI Retail Group will continue to operate the units.

Property Specifications: The Siglap V units cover about 10,624 sq ft, primarily leased to CS Fresh and Guardian, while the Toa Payoh unit, currently occupied by Giant Supermarket, has a remaining tenure of about 47 years. The transaction is expected to be completed by October 30.