SINGAPORE (Apr 17): Raffles Education Corporation (REC) is seeking to sell the property at 1-3 Fitzwilliam Street, Parramatta, New South Wales, Australia.

Raffles Assets Australia (RAAPL), a wholly-owned subsidiary of REC, on Monday entered into a non-binding heads of agreement with Propertylink (Holdings) (PHL) in relation to the proposed sale.

The parties intend to enter into a definitive agreement in the form of a put and call option agreement.

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