<article>Perennial Real Estate and Datapulse Technology are seeking to dispose of their respective property assets.</article>

Perennial Real Estate and Datapulse Technology are seeking to dispose of their respective property assets.
<h3>Perennial leads consortium sale of AXA Tower for S$1.65b</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/perennial-real-estate" target="_blank" rel="noopener noreferrer">Perennial Real Estate Holdings Limited (Perennial)</a> is to lead a consortium in the en bloc sale of AXA Tower at a consideration not less than S$1.65 billion ($1.21 billion), which translates to S$2,150 per square foot.
This is based on the total strata area of 767,358 sq ft after its asset enhancement initiative (AEI). Accounting for the AEI cost of S$140 million &#8211; fully debt-funded &#8211; post-AEI strata value amounts to about S$2,333 per sq ft.
AXA Tower still encompasses unutilised gross floor area of about 185,850 sq ft post-AEI.
The sale will see JLL and CBRE operate as joint marketing agents to manage enquiries on the potential sale. According to Perennial, the sale consideration follows the receipt of a number of en bloc sale enquiries for the development; Singapore&#8217;s office market has rebounded and seen strong interest in the commercial office segment.
<h3>Datapulse Technology to sell Tai Seng property</h3>
Digital storage products company Datapulse Technology announced on Monday its intent to sell its Tai Seng premise, Datapulse Industrial Building, for S$53.5 million ($39.4 million).
The net asset value of the property is about S$8.4 million as at end-April 2017 with the gain from the proposed disposal forecast to be S$44.5 million. Proceeds will be used to acquire new premises, as well as for general working capital and new investment opportunities that may arise.
The company had on 26 July granted an option to an independent third-party to purchase its leasehold property at 15A Tai Seng Drive. Granted by state industrial landlord JTC, it is a six-storey industrial building with a 30-year lease tenure dating from August 1993. It comprises production and warehouse areas, as well as ancillary offices, with a gross floor area estimated at 15,174 square metres.
The transaction is subject to shareholder and JTC approvals.
According to the company, the proposed sale &#8220;will enable the group to realise the value of the property at a significant premium over its book value, and allow the group to reallocate its resources to improve and optimise the utilisation of assets.&#8221;
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/singapore-digest-weir-buys-kop-propnex-dwg-merge-form-largest-sg-realty-agency-75064/">Singapore Digest: Weir buys out KOP; PropNex, DWG merge to form largest SG realty agency</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/oceanus-acquisition-spout-entertainment-aurora-media-partnership-79162/">Singapore: Oceanus acquisition; Spout Entertainment-Aurora Media partnership</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/realty-dealbook-perennial-real-estate-releases-two-office-floors-for-sale-51727/">SG Realty Dealbook: Perennial Real Estate to sell office floors, Kaki Bukit industrial units sale</a>

Perennial Real Estate and Datapulse Technology are seeking to dispose of their respective property assets.

SG Realty: Perennial leads AXA tower sale; Datapulse to divest industrial premises

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

SG Realty: Perennial leads AXA tower sale; Datapulse to divest industrial premises

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief