http://www.todayonline.com/Business/Property/EDC111007-0000203/Midlink-Plaza-sold-for-S$126,8m

Midlink Plaza sold for S$126.8m

04:46 AM Oct 07, 2011


Midlink Plaza in Middle Road has been sold for S$126.8 million to 122 Middle Investment, marketing agent Credo Real Estate said yesterday.

Shareholders of 122 Middle Investment include Millennium Land, an associate company of Singapore-listed Lian Beng Group, which plans to redevelop the site into a hotel, Credo added.

122 Middle Investment has made an outline planning permission application to the Urban Redevelopment Authority, which said it was prepared to support the redevelopment of the site into a 16-storey hotel or commercial development.

Midlink Plaza currently comprises 79 strata-titled retail and office units, with a total gross floor area of 128,076 sq ft. The 99-year leasehold site has a remaining lease of about 68 years.