Chesterton back in S'pore property scene

PHOTO: Chesterton back in S'pore property scene

British real estate consulting firm Chesterton Global is back in Singapore after selling its stake in a local consultancy earlier this year.

It has made a "fairly significant" investment in a new local property consultancy named Chesterton Singapore, Chesterton Global group chief executive Robert Bartlett told a press briefing on Monday. Speaking at Chesterton Singapore's office in Raffles Place, Mr Bartlett declined to disclose the amount invested.

However, he said Chesterton Global hopes to use Singapore as a base for regional expansion, which would likely involve "millions of dollars".

Chesterton Global holds a 70 per cent stake in Chesterton Singapore, which is led by veteran property consultant Donald Han.

Mr Han said on Monday that he expects more foreign investors and funds to invest in Singapore real estate in the next 12 months.

The remaining 30 per cent stake in the consultancy is held by Mr Han and individual executive directors.

These executive directors include Ms Brigid Chan, who heads the business solutions arm; Ms Elaine Chow, who is research head; and Ms Chee Hok Yean, who helms the hotels, valuations and capital markets units.

All three women and Mr Han were formerly at HSR. Ms Teo Li Kim, who was also part of their team at HSR, is now a director and head of consultancy at Chesterton Singapore.

Chesterton Global is the parent company of Chesterton International, which previously held a 30 per cent stake in a local property consultancy called Chesterton Suntec International - a joint venture with Suntec Investment.

Suntec Investment bought Chesterton International's stake in that consultancy in June this year for an undisclosed sum.

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