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Norman HO

Partner
Real Estate
norman.ho@rodyk.com
+65 6885 3663


EXPERIENCE

Acted for the Hind Group in its purchase of The Saff Hotel (formerly the Royal Peacock Hotel), a 79-room boutique hotel located at Keong Saik Road, for approximately S$42 million. The Hind Group also owns Naumi Hotel, a luxury boutique property at Seah Street behind Raffles Hotel.


Acting for a related company of Tong Eng Brothers Pte Ltd in its collective purchase of the 26-unit Cai Garden, a residential development at Foo Kim Lin Road, for S$43 million. The collective sale was made by private treaty with the agreement of all owners.


Acting for Peninsula Park Residences Pte Ltd, a unit of mainboard listed Pollux Properties Ltd, in its acquisition of the 11-unit Ganges Centre at 554 Havelock for the collective purchase price of S$23.5 million. The industrial development has been rezoned for residential use. The purchase price does not include the development charge for rezoning the land, nor does it include the premium for the lease top up to 99 years. The site has a gross floor area of 45,404 sq ft and had only 24 years remaining on the lease. The collective sale was made by private treaty with the agreement of all owners.


Acted and led the transaction in the sale of One Finlayson Green, a freehold office block in Raffles Place for S$227 million or about S$2,520 psf on its net lettable area of about 89,950 sq ft. The building is being sold through private treaty by a fund managed by Singapore based Lucrum Capital to a group of private investors registered under a British Virgin Islands vehicle. Rodyk had also previously acted in the purchase of the building (by way of share purchase) in early 2010.


Acting for Cockpit International in its sale of IBIS Novena (by way of share purchase) for S$118 million cash. The IBIS Novena is a 3-star hotel located along Balestier Road comprising 241 guest rooms. It opened in April 2011 and is believed to be Singapore's second international economy hotel. It is believed that the IBIS Novena will be included in the assets to be listed in the hospitality REIT sponsored by the Purchaser in the second half of 2011.



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