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Cortina Holdings sells two units at The Adelphi for $6.5 million

Published on Apr 9, 2014 9:03 PM

SINGAPORE - Watch retailer Cortina Holdings has agreed to sell two vacant commercial units at The Adelphi for $6.5 million.

The strata-titled units on the fifth floor of the 999-year lease building are being sold to a wholesaler of cosmetics and toiletries owned by two individuals, Cheng Yeou Jian and Zhang Yanhua.

The Adelphi, which stands at the corner of North Bridge Road and Coleman Street, comprises a five-storey retail podium and a six-storey office block with four levels of basement parking.

The price tag is about 7 per cent and 12 per cent below the valuation by Colliers and DTZ respectively.

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