01 Mar 2023

S$333 million purchase and leaseback of properties from Cycle & Carriage

Partners Norman Ho and Gazalle Mok from the Corporate Real Estate Practice, alongside Partners Cindy Quek from the Banking & Finance Practice and Benjamin Liew from Financial Institutions Practice acted for M&G Real Estate in the S$333 million purchase and leaseback of a portfolio of four properties from Cycle & Carriage Industries Pte. Limited (“Cycle & Carriage”). The properties are currently used as auto showrooms, service centres, workshops, and warehouses, and will all be leased back for at least 10 years to Cycle & Carriage.