New Post closed on Thursday at 0.57 yuan, starting from 0.89%
According to the new postal website, due to the downward pressure on the industry, it has closed about 12 post offices in recent years and still operates 42. These post offices are located in the original property, HDB floors and other commercial premises owned by the Singapore Land Administration.
The total layered area of these 10 HDB stores is approximately 21,119 square feet, with an average annual total return rate ranging from 4.32% to 4.98%. By selling and renting back these HDB stores, the New Post estimates that it can profit from cash inflows from valuation boosts and disposal projects.
Singapore Post is rumored to sell and lease back 10 HDB stores for RMB 50 million.
New Post had previously revealed that it would sell non-core assets and businesses, including the Singpost Centre with a valuation of 1.1 billion yuan, to release shareholder value.
According to the Business Times on Thursday (June 19), the above-mentioned HDB stores are distributed in multiple HDB areas, with an estimated total selling price of 50 million yuan. Among them, the store price on Teban Gardens Road is the lowest, at 2.4 million yuan; the store price on Bedok North is the highest, at 7.1 million yuan.
These stores will be sold by CBRE and will be launched on the market by inviting buyers to bid for the final date of July 30 at 3:00 pm.