Frasers Property acquires Cuppage Terrace in Orchard Road area for $175 million
The asset is located next to The Centrepoint, Frasers’ flagship property on Orchard Road.
Singapore-based real estate firm Frasers Property has acquired Cuppage Terrace, a collection of 17 Peranakan-style shophouses, for $175 million in the Orchard Road district. The property, announced on August 31, combines a "distinctive lifestyle enclave" with a range of dining, entertainment, and nightlife options. Spanning 34,678 square feet and with 62 years remaining on its 99-year lease, the enclave is situated adjacent to Frasers' flagship asset, The Centrepoint.
This acquisition comes after Frasers secured a collective-sale tender for The Centrepoint's leasehold rear plot for $391.9 million in February. As the majority shareholder in the freehold front plot at The Centrepoint and owning 96% of the retail units, Frasers aims to create long-term value by enhancing its investment portfolio.
Chief executive Soon Su Lin emphasized that the acquisition will unlock synergies across adjacent sites, positioning their properties to contribute to the ongoing transformation of Orchard Road. Frasers Property's shares closed at S$1.02 on August 31, marking a 1% increase.
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- Frasers Property acquires Cuppage Terrace in Orchard Road area for S$175 million businesstimes.com.sg
