ARA Asset Management and Chelsfield Asia JV acquires Manulife Centre for $555.5 mil

SINGAPORE (Jan 4): ARA Asset Management and Chelsfield Asia, part of the UK property property group Chelsfield, have formed a joint venture to acquire Manulife Centre at 51 Bras Basah Road for $555.5 million.

Spanning over 241,000 sf in office and retail space, the property comprises a ground floor retail podium and a large efficient floor plate of 23,000 sf on average.

Located at the heart of Singapore’s Civic District, the 11-storey commercial building, the property enjoys amenities including F&B offerings, two adjoining MRT stations on the Downtown and Circle lines, and a wide selection of surrounding hotels and established shopping belts.

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