Singapore's Frasers Commercial to sell property for S$360 mln

SINGAPORE, April 24 Mon Apr 23, 2012 7:46pm EDT

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SINGAPORE, April 24 (Reuters) - Frasers Commercial Trust , which owns office assets in Asia, said on Tuesday it will sell a Singapore commercial property to Bayfront Ventures Pte Ltd for S$360 million ($288 million).

Bayfront Ventures is a company jointly owned by Fragrance Group Ltd and World Class Land Pte Ltd, a subsidiary of Aspial Corporation Ltd.

Frasers Commercial said it will realise a gain of S$72.8 million from the sale of the property. ($1 = 1.2483 Singapore dollars) (Reporting by Charmian Kok; Editing by John Mair)