Thursday, July 28, 2011


Guthrie: +3% at $0.505.
Business Times today reported that a 50/50 Guthrie / Sun Venture Property JV has sold 7 strata shop units at The Adelphi near City Hall MRT Station, at prices ranging from $1900-4040 psf in the past few wks. The shops are btwn 398 – 915 sf.
Since mid-Mar, the duo have also sold 28 strata office units at The Adelphi, fetching $1675 – 2231 psf.
The combined sale of strata office and shop units have a total strata area of 51.4k sf and have fetched a total of $105.4m. This compares with the $218.1m that Guthrie/SunVenture paid in Dec last yr, for 163 strata units with a combined 178k sf.
A back of envelop calculation suggests that Guthrie stands to book ~$21.2m profit (~2cts/sh) from the sale of the property.
Co to report 2Q results due 12 Aug, according to Bloomberg estimates.

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