Allen & Gledhill advised Hongkong Land (“HKL”), via its newly established private real estate fund Singapore Central Private Real Estate Fund (“SCPREF”), on the approximately S$1.1 billion acquisition of the owner and developer of Wheelock Place from an entity owned by major Hong Kong listed company Wharf Real Estate Investment Company Limited.
Wheelock Place is a landmark mixed-use property located on Singapore’s Orchard Road, comprising a 21-storey commercial building and two basement levels incorporating offices, shopping podium and car parks.
This acquisition aligns with HKL’s strategy of growing recurring earnings and expanding its fund management platform and, through SCPREF, pursuing growth opportunities in Singapore’s commercial real estate market through high-quality acquisitions and to drive value through active asset management, operational enhancements and long-term value creation.
Advising HKL were Allen & Gledhill Partners Christopher Koh, Tan Boon Wah, Wong Yi Jia, Eugene Ho, Sunit Chhabra and Kang Yanyi.