PROPERTY developer Oxley Holdings has received aggregate proceeds of S$210 million following the first completion of its S$1.025 billion sale of Chevron House, the mainboard-listed company announced in a bourse filing on Friday.
Oxley has transferred 82.35 per cent of the issued and paid-up capital of Oxley Beryl, which owns Chevron House, to purchaser Golden Compass . Accordingly, Oxley has received an aggregate sum of S$210 million, less the retention sum of S$41.4 million and costs borne by Oxley for the asset enhancement works.
Following the first completion, Oxley still owns 17.65 per cent of Oxley Beryl. The latter is no longer a subsidiary of Oxley Holdings.Chevron House at 30 Raffles Place is a 32-storey commercial development comprising 27 levels of office space and a five-storey retail podium with net lettable floor area of about 261,280 sq ft. Oxley had paid S$660 million for the Raffles Place development in December 2017.