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FRASERS Property is understood to be in advanced negotiations for a potential sale of its 72-unit serviced-apartment property and three conserved warehouses along the Singapore River.
An entity linked to Tuan Sing Holdings is tipped as the prospective buyer. The Business Times understands that it has been doing exclusive due diligence for a potential purchase at slightly above S$130 million.
The asset comprises the four-storey block of serviced apartments named Fraser Residence River Promenade and the three warehouses, or godowns, which housed the popular Zouk night spot for about 25 years until it moved to Clarke Quay in late 2016.
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