# Aspial sells skyscraper site at discount; Huationg buys land for dormitory; and other listco property deals

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-01T12:38:52.000Z
- **Author:** Edgeprop Singapore
- **Original:** https://www.edgeprop.sg/property-news/aspial-sells-skyscraper-site-discount-huationg-buys-land-dormitory-and-other-listco-property-deals
- **Topics:** HDB & Public Housing, Commercial & Industrial, Transactions & Deals

## Featured rationale

The discounted disposal signals pressure from construction costs, financing constraints and muted pre-sales, potentially encouraging developers to exit stalled sites and reduce carrying costs.

## AI summary

Aspial Corp agreed to sell its Brisbane freehold skyscraper site for AUD 33.55 million, below its July 2025 valuation of AUD 36 million.

## Original article

Several Singapore-listed companies and Reits — including Singapore Post (SingPost), Huationg Global, Aspial Corp, ESR-Reit, and Parkway Life Reit — recently announced real estate transactions over the past week.

The deals involve properties ranging from HDB shophouses, hotels, and a nursing home, to logistics facilities and a CBD office unit, both in Singapore and abroad.

Aspial to sell scuppered residential project site in Australia

Aspial Corp is looking to sell a prime CBD freehold island site at 30 Albert Street in Brisbane, Queensland, to Australian hotel developer Doma Group for AUD 33.55 million ($29.97 million), which is below valuation.

Read also: Hotels will need to tailor offerings to Gen Z travellers' varied tastes: Marriott

Aspial initially intended to build an 857-unit, 91-storey residential skyscraper with seven basement levels on the 1,642 sq m (17,674 sq ft) site, which it had purchased in 2014 for AUD 35.36 million.

In 2016, its subsidiary World Class Land (WCL) had proposed a blue and gold glass design for the tower and a total of 304 carpark spaces with 3,283 sq m of communal recreation space.

However, the project subsequently had to be shelved when the government’s underground heavy rail project led to design and engineering constraints for the developer, local media reported. The site also remained inactive as Brisbane’s housing market faced higher construction costs, tighter financing and muted pre-sales.

Aspial’s wholly-owned subsidiary, WCL (Qld) Albert Street, has entered into a put and call option agreement with Doma Albert Street for the proposed transaction, according to a June 30 bourse filing.

Doma plans to develop a 47-storey tower on the land parcel, anchored by its Little National Hotel brand.

Aspial said the proposed disposal will enable the group to realise the property’s value, reduce holding and financing costs, and generate positive cash proceeds.

Read also: Why savvy Singapore investors build portfolios by investing in real estate without buying property

Net proceeds of about AUD 27.111 million may be used for general working capital purposes and to repay loans.

In addition, the group would be able to save some AUD 2 million annually — comprising the holding costs of the property including council rate and taxes, and interest expenses on the bank borrowings secured against the property.

The latest available open market value of the property, based on a valuation commissioned by Aspial, was AUD 36 million as at July 2025.

Huationg buys land in Changi South to build dormitory

Civil engineering firm and dormitory operator Huationg Global has completed the acquisition of a leasehold parcel, spanning 4,385 sq m (47,200 sq ft) in land area, located at Lot 8244M of Mukim 27 in Changi South.

Its wholly owned subsidiary One Changi has paid for the remaining balance of 95% of the undisclosed purchase price to the seller, Huationg said on June 30.

The group has proposed to develop the land into a purpose-built dormitory with an estimated gross floor area of about 7,000 sq m (75,347 sq ft).

Read also: How far should an MCST go to recover unpaid maintenance contributions?

While Huationg did not disclose the consideration or purchase price for the acquisition of the land, it had noted in May that the total development cost would be around $58 million. This comprises the purchase price and also the estimated construction costs for the dormitory.

Subject to approvals, construction is expected to start in the second half of 2026, with completion targeted by the second half of 2028. The dormitory could commence operations by the first half of 2029.

Acrophyte Hospitality eyes US hotel divestments

Two non-core and underperforming hotels in Atlanta, US, may fetch a total of US$17.25 million ($22.36 million), below valuation, under the proposed sale by Acrophyte Hospitality Trust (Acro-HT).

The stapled group’s subsidiary has entered into two conditional purchase and sale agreements with the buyer, Viator Hotels, for the 127-room Hyatt Place Atlanta Alpharetta Windward Parkway at US$8.6 million and for the 126-room Hyatt Place Atlanta Norcross Peachtree Corners at $8.65 million.

Built in the 1990s, both hotels will require a combined US$6.6 million in brand-required renovations in 2027, and about US$1.1 million in capital expenditure (capex) related to building and mechanical systems.

In a June 26 filing, Acro-HT said that the combined capex would represent nearly 40% of the hotels’ year-end valuation in 2025.

“Much of the capital invested will be to cure deferred maintenance and address brand requirements… without much upside given overall weak market conditions,” it added.

The Alpharette and Norcross submarkets in Atlanta have continued to lag their pre-pandemic performance, and there are also operational challenges related to cost inflation and labour market challenges.

An independent valuation of both properties had valued them at a combined US$18.9 million, which means the overall sale price represents an 8.7% discount.

SingPost leases back HDB shophouses

SingPost on June 30 announced it has completed the collective sale of 14 HDB shophouse units across Singapore for a total of $55.5 million. The postal service provider is now leasing back these properties from the buyer, Trans Realty, a subsidiary of taxi operator Trans-Cab.

The sale-and-leaseback arrangement was first announced in November 2025, when SingPost had also said that the leaseback option for each property would generally last for three years.

SingPost had previously acquired the 14 units between 1989 and 1996 for its operations. A company spokesperson had said last year that the shophouses inclues those located in Tanjong Pagar, Teban Gardens, Clementi West, Towner Road, Serangoon Central, Jurong West, Ang Mo Kio, Bukit Merah Central, Ghim Moh Estate and Bedok North.

ESR-Reit wraps up portfolio sale to Brookfield

ESR-Reit, which focuses on logistics real estate and data centres, has completed the divestment of the final industrial asset in a portfolio of eight to Brookfield Asset Management.

The logistics building at 46A Tanjong Penjuru, in the Jurong/Pioneer area, has changed hands for $113.5 million, the Reit manager said in a June 30 bourse filing.

The sale of the other seven industrial assets was completed earlier in June for $224.6 million.

They include another logistics property at 24 Jurong Port Road; general industrial buildings at 86 and 88 International Road, 120 Pioneer Road, 13 Jalan Terusan, 60 Tuas South Street 1 and 43 Tuas Circuit View; as well as a high-specs facility at 21 and 23 Ubi Road 1.

ESR-Reit had announced the proposed $338.1 million divestment of the eight non-core assets last December.

Parkway Life Reit sells Japan nursing home

Healthcare-focused Parkway Life Reit has divested a nursing home asset in Japan’s Hyogo prefecture to K.K. Etoile for JPY1.1655 billion ($9.4 million).

The buyer is the existing operator of the property and a subsidiary of Yoshimei Group, a Japanese corporate group, the Reit manager said on June 30.

It added that the sale supports the Reit’s ongoing asset recycling and portfolio rejuvenation strategy, given the asset’s mature profile, increasing capex requirements and limited valuation upside.

The sale price is at a 38% premium to the acquisition price in 2008, and is 5% above the latest independent valuation as at end-2025.

Yamada Green completes CBD office unit sale

Real estate and industrial park operator Yamada Green Resources on June 30 announced it has completed the disposal of an office unit located at the Plus building on 20 Cecil Street in Singapore’s CBD.

Located on the sixth floor, the investment property spans a net area of 517 sq ft and fetched $1.325 million in the deal.

As the book value of the property was $1.4 million as at the end of last year, the transaction resulted in a loss on disposal of $75,000.

The buyer is Bio Majesty, according to Yamada Green’s Apr 24 filing on the proposed sale.

Ipoh property sale by Nanyang New Development

Specialty chemicals company Nanyang New Development is proposing to sell a piece of land with a factory in Ipoh, Malaysia, for RM1.9 million ($607,715).

Its subsidiary Unimatex has inked a binding letter of offer with Winstar Electrical for the transaction, according to a June 30 bourse filing. The buyer is a Malaysia-incorporated company that deals in electrical goods and electrical wiring components.

The property comprises a 99-year leasehold site — with the lease expiring in July 2096 — measuring about 13,745 sq ft, as well as a mid 1.5-storey semi-detached factory.

It functions mainly as a warehousing facility, while a small portion serves as an office.

## Chinese translation

> Translation model: grok

### Aspial折价出售摩天楼地块；华通购地建宿舍；及其他上市企业地产交易

新加坡邮政完成5,550万新元组屋店屋出售；ESR-Reit剥离1.135亿新元工业资产；两家美国酒店易手

多家新加坡上市企业与房地产投资信托（Reit）——包括新加坡邮政（SingPost）、华通全球（Huationg Global）、Aspial Corp、ESR-Reit以及百汇生命房地产信托（Parkway Life Reit）——过去一周陆续公布房地产交易。

交易涵盖组屋店屋、酒店、疗养院，以至物流设施与中央商务区办公单位，地点横跨新加坡及海外。

Aspial拟出售澳洲搁浅住宅项目地块

Aspial Corp拟将位于澳大利亚昆士兰州布里斯班阿尔伯特街30号的黄金中央商务区永久地权岛状地块，以3,355万澳元（约2,997万新元）售予澳洲酒店发展商Doma Group，成交价低于估值。

另读：万豪：酒店须因应Z世代旅客多元口味定制产品

Aspial最初拟在该1,642平方米（17,674平方英尺）地块上兴建857户、91层住宅摩天楼及七层地下室，地块于2014年以3,536万澳元购入。

2016年，其子公司World Class Land（WCL）曾提出蓝金玻璃外观设计，共304个停车位及3,283平方米公共休闲空间。

然而，当地媒体报道，政府地下重轨项目随后导致设计与工程限制，项目被迫搁置。布里斯班住房市场亦面临建筑成本上升、融资收紧与预售低迷，地块长期闲置。

据6月30日交易所公告，Aspial全资子公司WCL (Qld) Albert Street已与Doma Albert Street就拟议交易签订认沽与认购期权协议。

Doma计划在该地块开发47层塔楼，并以旗下Little National Hotel品牌为主力。

Aspial表示，拟议出售有助于集团实现物业价值、降低持有与融资成本，并产生正现金收益。

另读：精明新加坡投资者如何不买房也能用房地产构建投资组合

净收益约2,711.1万澳元或用于一般营运资金及偿还贷款。

此外，集团每年或可节省约200万澳元——包括市政税等持有成本，以及以该物业抵押的银行借款利息支出。

根据Aspial委托的最新公开市场估值，该物业截至2025年7月估值为3,600万澳元。

华通于樟宜南购地建宿舍

土木工程公司兼宿舍运营商华通全球已完成收购樟宜南（Changi South）一幅地面积4,385平方米（47,200平方英尺）的租约地块，地契编号为Mukim 27 Lot 8244M。

其全资子公司One Changi已向卖方支付未披露购价的剩余95%款项，华通于6月30日表示。

集团拟将该地开发为专用宿舍，估计总楼面面积约7,000平方米（75,347平方英尺）。

另读：管委会为追回未缴管理费应走到哪一步？

华通虽未披露土地收购对价或购价，但5月曾指出总开发成本约5,800万新元，包括购地价与宿舍预估建筑成本。

视审批情况，施工预计于2026年下半年启动，目标2028年下半年完工，宿舍或于2029年上半年投入运营。

Acrophyte Hospitality拟剥离美国酒店

Acrophyte Hospitality Trust（Acro-HT）拟议出售位于美国亚特兰大两家非核心、表现欠佳的酒店，合计或可取得1,725万美元（约2,236万新元），低于估值。

该合订集团子公司已与买方Viator Hotels就两份有条件买卖协议签约：127间客房的Hyatt Place Atlanta Alpharetta Windward Parkway作价860万美元；126间客房的Hyatt Place Atlanta Norcross Peachtree Corners作价865万美元。

两家酒店建于1990年代，2027年合计需约660万美元品牌要求装修，以及约110万美元与建筑及机电系统相关的资本支出。

Acro-HT在6月26日公告中称，合计资本支出将约占两酒店2025年年末估值的近40%。

“所投入资本大多用于补救递延维护并满足品牌要求……在整体疲弱的市场条件下上行空间有限。”公告补充道。

亚特兰大Alpharetta与Norcross细分市场持续落后于疫情前表现，运营亦面临成本通胀与劳动力市场挑战。

两物业独立估值合计1,890万美元，整体售价折让约8.7%。

新加坡邮政售后回租组屋店屋

新加坡邮政6月30日宣布，已完成新加坡各地14个组屋店屋单位的集体出售，总价5,550万新元。该邮政服务商现向买方Trans Realty（德士运营商Trans-Cab子公司）回租这些物业。

售后回租安排于2025年11月首次公布，当时新加坡邮政亦表示，各物业回租期一般为三年。

新加坡邮政此前于1989年至1996年间收购这14个单位作营运用途。公司发言人去年称，店屋所在地包括丹戎巴葛、德班花园、金文泰西、汤路、实龙岗中心、裕廊西、宏茂桥、红山中心、金莫屋苑及勿洛北等。

ESR-Reit完成向布鲁克菲尔德的组合出售

专注物流地产与数据中心的ESR-Reit已完成向布鲁克菲尔德资产管理出售八个资产组合中最后一处工业资产。

位于裕廊/先驱一带丹戎彭茹路46A号的物流大楼以1.135亿新元易手，Reit管理人在6月30日交易所公告中表示。

其余七处工业资产已于6月稍早以2.246亿新元完成出售。

包括裕廊港路24号另一物流物业；国际路86及88号、先驱路120号、Jalan Terusan 13号、大士南一街60号与大士环道43号等一般工业楼；以及乌美一路21及23号高规格设施。

ESR-Reit去年12月宣布拟以3.381亿新元剥离这八处非核心资产。

百汇生命房地产信托出售日本疗养院

专注医疗保健的Parkway Life Reit已将日本兵库县一处疗养院资产，以11.655亿日元（约940万新元）售予K.K. Etoile。

买方为该物业现有运营商，亦是日本企业集团Yoshimei Group子公司，Reit管理人于6月30日表示。

其补充说，鉴于该资产已趋成熟、资本支出需求上升且估值上行空间有限，此次出售支持Reit持续的资产循环与组合焕新策略。

售价较2008年收购价溢价38%，并较截至2025年底最新独立估值高出5%。

Yamada Green完成中央商务区办公单位出售

房地产与工业园运营商Yamada Green Resources于6月30日宣布，已完成出售位于新加坡中央商务区薛尔西路20号Plus大厦的办公单位。

该投资物业位于六楼，净面积517平方英尺，成交价132.5万新元。

由于该物业截至去年底账面价值为140万新元，交易产生7.5万新元处置亏损。

据Yamada Green 4月24日关于拟议出售的公告，买方为Bio Majesty。

南洋新发展拟售怡保物业

特种化学品公司Nanyang New Development拟以190万令吉（约607,715新元）出售马来西亚怡保一幅连工厂的土地。

据6月30日交易所公告，其子公司Unimatex已与Winstar Electrical就该交易签署有约束力的要约函。买方为马来西亚注册公司，经营电气产品与电线部件。

该物业包括一幅99年地契（租约至2096年7月届满）、约13,745平方英尺的地块，以及一座中期1.5层半独立工厂。

主要用作仓储设施，小部分作办公用途。