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20-11-2019, 06:26 PM.
Post: #151
RE: Capitaland
CapitaLand divests The Star Vista for S$296 million

CapitaLand announced today that it has entered into an agreement to sell The Star Vista for S$296 million to Rock Productions, owner of The Star Performing Arts Centre that is co-located with The Star Vista in the same development. Based on the latest independent valuation, The Star Vista was valued at S$262 million as at 30 June 2019. The divestment is targeted to be completed by end 2019 and is expected to generate for CapitaLand net proceeds of approximately S$145 million and a net gain of approximately S$32 million.

Located next to the Buona Vista MRT Interchange, The Star Vista is part of a 15-storey integrated development which also includes a 5,000-seat auditorium. Opened in September 2012, the mall comprises three levels of retail space – two levels above ground and one basement level – with a net lettable area of about 162,500 square feet. The mall registered an occupancy of 95% as at 30 June 2019. Its major tenants include Beauty in the Pot and LeNu, Canton Paradise Teahouse, Redman by Phoon Huat, Swee Lee and Cold Storage.

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