<div id="readability-page-1"><div>[SINGAPORE] Raffles Education has sold its corporate building at 51 Merchant Road for S$121.8 million, a price that is about 78 per cent more than the property’s book value as at end-June.The sale price is, however, below the S$152.7 million market value estimated in a desktop valuation in June. Nonetheless, Raffles Education is expected to book a gain on disposal of around S$53 million and receive net proceeds of about S$121.3 million. Known as Raffles Education Square, the property comprises a four-storey commercial building connected to two rows of conserved buildings and two levels of basement car parks. The property, which has a 99-year lease expiring in May 2092, occupies roughly 2,570 square metres (sq m) of land, with a gross floor area of about 6,606 sq m. The unnamed buyer is said to be in the business of letting self-owned or leased real estate property such as office/exhibition space, shopping malls and self-storage facilities. In a bourse filing on Monday (Dec 1), Raffles Education said that the purchaser has no links to its directors or substantial shareholders and their respective associates.“The disposal of the vacant property is a decisive move to optimise our balance sheet and capital structure. This transaction enables the full extinguishment of the property’s associated loan, eliminating a significant liability and its related interest burden,” it noted. Raffles Education added that proceeds from the sale will be redeployed to improve working capital and fund higher-yielding initiatives. The deal is expected to be completed on Jan 30, 2026, subject to conditions including shareholder approval. Assuming that the transaction was completed on Jun 30, Raffles Education’s net tangible assets per share would be S$0.4296, up from S$0.3915. Its earnings per share would have risen to S$0.0477, from S$0.0055, had the deal been done on Jul 1, 2024. The sale follows two earlier attempts to market the property, in 2021 and again in 2023, both of which drew no takers.<h2>Growing investor appetite for shophouses</h2>The deal comes at a time when investor interest in shophouses has been climbing, supported by an improving economic outlook and easing financing costs.Shophouse sales in Singapore rose to 27 caveated deals in the third quarter, compared with 18 in the previous quarter – marking the highest quarterly sales in about two years, according to a recent PropNex market update. Notable deals include the sale of three adjoining freehold shophouses in Jalan Besar in the Desker Road conservation area for S$36.5 million, or S$5,723 per square foot (psf) on a land area of 6,378 square feet (sq ft). Another transaction was the sale of a Club Street conservation shophouse for S$21 million, or S$3,889 psf based on the estimated gross floor area of 5,400 sq ft. The Business Times previously reported that the three-storey corner shophouse was sold by JL Family Office – set up by ARA Asset Management co-founder John Lim – to Singapore-incorporated Asia Success Management.Other big-ticket purchases that were not caveated during the quarter include a portfolio sale of six conservation shophouses along Stanley Street by Anpora Real Estate for more than S$82 million. The buyers were said to be affiliates of Clifton Partners, a Singapore-based real estate investment firm.Analysts expect investor demand for shophouses to remain resilient, supported by the safe-haven appeal of Singapore and scarce supply of the heritage properties. Shophouse values and rental demand are also projected to hold steady amid a positive economic growth outlook.</div></div>

萊佛士教育

萊佛士教育以 1 億 2180 萬新元的價格出售其位於商人路 51 號的公司大樓，售價比賬面價值高出 78%，但低於市場價值。此次交易將帶來 5300 萬新元的收益，淨收益為 1 億 2130 萬新元。該交易旨在優化資產負債表併為更高收益的項目提供資金，預計將在 2026 年 1 月 30 日完成。此次出售反映了投資者對商鋪房產日益增長的興趣，尤其是在經濟前景改善的背景下

萊佛士教育以 1.218 億新加坡元出售其公司大樓