Lian Beng Group together with its consortium partners, has entered into a put and call option agreement to acquire the BreadTalk IHQ Building from BreadTalk Group Pte Ltd. for an aggregate purchase consideration of $118 million. The Property will be acquired through a consortium in which Lian Beng holds a 75% direct stake through its wholly owned subsidiary. Its consortium partners, Apricot Capital Pte Ltd. and 32RE Investments Pte Ltd, will hold 20% and 5% respectively. Located at 30 Tai Seng Street, the 10-storey BreadTalk IHQ Building is a single-user industrial development with a retail component located in the Tai Seng industrial precinct. It has a gross floor area of approximately 248,902 sq ft, including the commercial retail units. The Property faces Upper Paya Lebar Road and Macpherson Road, and is within walking distance from Tai Seng MRT station. Bearing an iconic design by award-winning local architect Tan Kay Ngee, the Property mainly serves as BreadTalk Group's international headquarters, housing its flagship retail brands, corporate offices, warehouse spaces as well as test and central kitchens, with other third-party tenants among its other occupants.