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The deal involves around 28,360 sq ft of office space on four floors.
Top Global has confirmed that it has been granted options to buy strata units in Thong Teck Building, reported The Business Times.
It had been reported that Allied Technologies executive director Kenneth Low Si Ren is selling a parcel of retail and office space for $129.5 million to Top Global.
Low is a director of Allied Technologies and owns 100 percent of Platform Capital Asia (Singapore), which in turn owns the Thong Teck properties indirectly via various units.
The deal involves around 28,360 sq ft of office space on four floors priced at around $100.2 million and around 6,440 sq ft of ground floor retail space priced at around $29.35 million.
In an SGX filing, Top Global revealed that it is “still evaluating the market conditions” in relation to the options, which were granted by entities owning the properties and are non-binding.
It had requested a trading halt on Wednesday (29 May) morning, “pending release of an announcement”. The property group then requested for the halt to be lifted by 12.38pm, following its filing of the clarification on the options.
Meanwhile, Allied Tech has been in the spotlight recently after the $33 million worth of escrow it placed with JLC Advisors went missing.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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