# Hongkong Land to acquire Wheelock Place for $1.1 bil via newly launched SPREF

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-31T02:31:37.000Z
- **Author:** Ashley Lo
- **Original:** https://www.edgeprop.sg/property-news/hongkong-land-acquire-wheelock-place-11-bil-newly-launched-spref
- **Topics:** New Launches, Government & Policy, Investment & Capital Markets

## Featured rationale

The inaugural acquisition signals institutional confidence in prime Orchard Road office and retail assets and could support further high-quality commercial acquisitions toward SPREF’s $15 billion target.

## AI summary

Hongkong Land will acquire Wheelock Place for $1.1 billion through SPREF, raising the Singapore commercial property fund’s AUM to an expected $9.4 billion.

## Original article

Hongkong Land Holdings will acquire Wheelock Place — a mixed-use development along Orchard Road — for $1.1 billion from Wharf Real Estate Investment Company through its Singapore Central Private Real Estate Fund (SPREF).

This marks the fund’s inaugural acquisition since it was first launched in February this year with $8.2 billion in initial assets under management (AUM). The seed properties include a 33.3% interest in MBFC Tower 1 and 2 and Marina Bay Link Mall, a 33.3% interest in One Raffles Quay, as well as a 100% interest in One Raffles Link and Asia Square Tower 1.

The fund was established with Hongkong Land as its manager and largest unitholder to pursue growth opportunities in Singapore's commercial real estate market through high-quality acquisitions, active asset management, operational enhancements and long-term value creation.

Read also: Hongkong Land unveils second phase of Westbund Central flagship development in Shanghai

SPREF’s AUM is expected to increase to $9.4 billion upon the planned completion of the acquisition by end-August, bringing it closer to its $15 billion AUM target, says the firm.

Wheelock Place is a 21-storey commercial building with two basement levels comprising office space, a retail podium and car parks, with a total gross floor area of approximately 465,866 sq ft.

Located within the Orchard Road precinct, Wheelock Place's prime location, established office and retail offerings, and long-term growth potential make it a strategic addition to SPREF's portfolio, adds Hongkong Land.

“To have secured this premium asset within months of the fund's launch reflects both the effectiveness of our fund management team and the confidence of our capital partners,” says Michael Smith, group chief executive of Hongkong Land. “It is a strong start, and one we fully intend to build on as we deliver on earnings accretion for investors and grow the Fund towards its target scale.”

## Chinese translation

> Translation model: grok_cli

### 置地控股通过新推出的SPREF以11亿新元收购Wheelock Place

该基金资产管理规模预计在8月底完成收购后增至94亿新元。

置地控股（Hongkong Land Holdings）将通过其新加坡中央私人房地产基金（SPREF），以11亿新元向九龙仓置业信托（Wharf Real Estate Investment Company）收购乌节路综合发展项目Wheelock Place。

这是该基金自今年2月以82亿新元初始资产管理规模（AUM）首度推出以来的首笔收购。种子物业包括滨海湾金融中心（MBFC）1号与2号大厦及Marina Bay Link Mall的33.3%权益、One Raffles Quay的33.3%权益，以及One Raffles Link与Asia Square Tower 1的100%权益。

该基金由置地控股担任管理人及最大单位持有人，旨在通过优质收购、积极资产管理、运营提升及长期价值创造，把握新加坡商业房地产市场的增长机遇。

延伸阅读：置地控股公布上海西岸中心旗舰发展项目第二期

公司表示，SPREF的资产管理规模预计在8月底完成收购后增至94亿新元，从而更接近其150亿新元的AUM目标。

Wheelock Place是一栋21层商业建筑，另有两层地下室，包含办公空间、零售裙楼及停车场，总建筑面积约465,866平方英尺。

置地控股补充称，Wheelock Place位于乌节路商圈，凭借黄金地段、成熟的办公与零售配套，以及长期增长潜力，成为SPREF投资组合的战略性新增资产。

置地控股集团首席执行官Michael Smith表示：“在基金推出后数月内便成功拿下这项优质资产，既体现了我们基金管理团队的执行力，也反映了资本合作伙伴的信心。这是一个强劲的开局，我们完全有意在此基础上继续推进，为投资者带来盈利增厚，并将基金做大至目标规模。”