Jumbo Group to acquire leasehold interest in Tai Seng Street property from Boustead Industrial Fund
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Jumbo Group plans to acquire a leasehold interest in a property at 26 Tai Seng Street from Boustead Industrial Fund. Currently, Jumbo occupies over half the property under a long-term lease, which is crucial for its operations. The acquisition aims to reduce rental volatility and enhance long-term occupancy stability. It will be executed through a special purpose vehicle, with Jumbo Group of Restaurants holding 30% and Perpetual (Asia) 70%. The option to acquire the leasehold interest will be available after April 10, 2033.
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