MAINBOARD-LISTED Hafary Holdings announced in a board filing on Tuesday (Jul 12) that it has exercised the option to purchase a property at 161 Lavender ...
The property consists of a row of shophouses currently tenanted to popular cafes such as Apartment Coffee and Glacier. Read more at straitstimes.com.
Under terms of the option, Hafary must pay the remaining value within four months of exercising its option to successfully purchase the shophouses. It intends to seek shareholder approval for the proposed transaction before closing the deal, where failure to do so would see the group forfeiting its deposit. As at the time of purchase, Hafary has paid a deposit of $3.6 million, or 5 per cent of the consideration.
SINGAPORE (EDGEPROP) Hafary Holdings plans to acquire a row of shophouses for $71.28 million from Broadway Textile, to be used as its new flagship store.
SINGAPORE - Mainboard-listed Hafary Holdings has exercised the option to purchase a property at 161 Lavender Street at the price of $71.28 million, ...
It intends to seek shareholder approval for the proposed transaction before closing the deal, where failure to do so would see the group forfeiting its deposit. Hafary believes that establishing a flagship store at the site would allow the group to showcase a "wider range of its products in a more accessible and convenient location" and "better serve the needs of its retail customers in Singapore". SINGAPORE - Mainboard-listed Hafary Holdings has exercised the option to purchase a property at 161 Lavender Street at the price of $71.28 million, through its wholly-owned subsidiary Hafary Flagship Store.