Wharf Real Estate Investment Company Limited (Wharf REIC) has agreed to sell its entire 100 % stake in Everbilt Developers Pte Ltd—the sole owner of Wheelock Place on Orchard Road, Singapore—to Orchard Scotts Holdings Ltd for S$1.11 billion (approximately HK$6.73 billion). The transaction was executed on 30 July 2026 through the signing of a sale and purchase agreement between Wharf REIC’s wholly owned subsidiary Star Attraction Ltd (vendor) and the purchaser, backed by guarantees from Singapore Central Private Real Estate Ltd and Hongkong Land Holdings Ltd. Completion is scheduled for 31 August 2026.

Wheelock Place is a 21-storey mixed-use commercial development with two basement levels, offering offices, a shopping podium and car parks across 43,280 sq m of gross floor area. As at 30 June 2026, the property was carried on the books at S$994.40 million.

The consideration, determined via competitive bidding, will be settled entirely in cash: a 5 % deposit of S$56.00 million has been paid, with the remaining S$1.06 billion due at completion. Post-completion adjustments will be made should the target’s net assets deviate from the agreed property value or if material damage occurs before completion.

Based on the expected net asset value of S$1.11 billion, Wharf REIC anticipates recording an unaudited pre-tax gain of about HK$1.01 billion. Net proceeds of approximately S$1.11 billion (HK$6.72 billion) are earmarked for debt reduction.

For the financial years ended 31 December 2024 and 2025, the target company posted profit after tax of S$128.20 million and S$42.70 million respectively, each figure including revaluation gains on investment property.

Given the size of the transaction—exceeding the 5 % but below the 25 % thresholds under Hong Kong Listing Rule 14.07—it is classified as a discloseable transaction, requiring public announcement but not shareholder approval.