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TSMP acts for Vibrant in rare dangerous goods warehouse deal worth $227.5m
We are pleased to announce that TSMP’s Corporate Real Estate team has on Friday 10 May 2019 closed the deal on a Jurong Island dangerous goods warehouse. We acted for Singapore-listed Vibrant Group Limited in this sale-and-leaseback of the property to SGRE Banyan Pte. Ltd., for a sale consideration of S$227.5 million. The negotiations went on for almost a year due to the asset’s unique nature – such chemical storage warehouses are scarce and rarely transacted – and location in a highly secured area, which attracts scrutiny by the landlord on the buyer. Jennifer Chia worked with her team of Yvonne Lian, Itishree Tyagi, Zan Wong and Lena Yeo on this deal. This article links to the announcement made back in February. https://www.businesstimes.com.sg/companies-markets/vibrant-to-enter-s2275m-sale-and-leaseback-deal-for-jurong-island-property
