Polaris (SGX:5BI) issued an option to purchase to The Mind Design for the disposal of its investment property at 81 Ubi Avenue 4, Singapore, for SG$888,888, according to a Thursday filing with the Singapore Exchange.
The property is an office unit on a land that has a leasehold tenure of 60 years. The gross floor area of the property is 1,302 square feet.
Proceeds from the proposed sale will be used for the repayment of the mortgage loan of the property and for general working capital needs.
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