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News Release

Singapore

Rare Opportunity to acquire 21% interest in a freehold commercial property along Orchard Road


SINGAPORE, 16 January 2013 – Jones Lang LaSalle is pleased to present an opportunity to acquire  a 21% strata interest in Orchard Towers comprising a total of 128,069 sq ft of strata area within 59 strata units.
Orchard Towers is a prime freehold mixed use development comprising of retail, office and residential in two separate towers located at the corner of Orchard Road and Claymore Road. Completed in 1973, the property has an existing strata area of 595,066 sq ft over 25 floors and 361carpark lots.
The offering represents the single largest interest in Orchard Towers, comprising of 21 retail units and 37 office units with a strata area of 7,449 sq ft and 70,536 sq ft respectively, located at the front tower along Orchard Road. An additional single strata title of 50,084 sq ft of office space is located at the rear tower along Claymore Road. The interest is being offered for sale based on the entire interest of 59 strata units or separately in 3 lots i.e. retail, offices in the front tower and offices in the rear tower.
Ashish Manchharam, Regional Director at Jones Lang Lasalle comments “The strong interest from retail investors in the commercial office and retail strata market presents an opportunity to acquire on a bulk basis with a view to sell down individually in the future. Alternatively, the 21% interest could be held on a long term basis for income with future potential for a collective sale.”
The tender exercise will close on at 3pm on 27 February 2013 (Wednesday).


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Notes to editors
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2011 global revenue of $3.6 billion, Jones Lang LaSalle serves clients in 70 countries from more than 1,000 locations worldwide, including 200 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 2.1 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $47.2 billion of assets under management.

Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 22,200 employees operating in 79 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was highly commended in a further three countries. For further information, please visit www.joneslanglasalle.com.sg, www.jllresidential.com/sg 200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619