DAPENSO BUILDING
Cecil Street, Singapore



 
 
 
 
Location

The Building is located along Cecil Street within the Singapore CBD. The location is well regarded as central, convenient and popular among secondary financial institutions as well as professional firms in the industry. Entrance to Tanjong Pagar MRT station is within 5 minutes walking distance. The future circle line MRT station is a few blocks away.

Building Description (Pre- acquisition)

Dapenso Building is a 9-storey commercial building comprising a banking hall on the first and second floors and office premises on the upper floors. It has ample car parking lots at two basement levels.

Dapenso Building is sitting on a 99-year government leasehold land

Investment Strategy

Remarkable Investment Pte Ltd acquired Dapenso Building in December 2006. The intention was to unlock its potential value and thereafter to hold it for long-term investment purpose to derive rental income. The asset enhancement plan includes the acquisition of adjoining land and to carry out alteration & addition works to the existing building which would increase the rental space by as much as 45%, improve its internal services and rental from the investment.

Divestment

The Company received an unsolicited offer to divest the Building which the shareholders of Remarkable Investment decided to accept the offer.

The sale of Dapenso Building was completed in September 2007.