Maxwell House relaunched for collective sale at $268 mil

By
/ EdgeProp Singapore
|
April 7, 2021 3:12 PM SGT
SINGAPORE (EDGEPROP) - Maxwell House, at 20 Maxwell Road, has been put up for collective sale for the second time at a lower reserve price of $268 million, a drop from its previous reserve price of $295 million, according to Cushman & Wakefield, which is marketing the property.
Maxwell-House - EDGEPROP SINGAPORE
Maxwell House (Credit: Cushman & Wakefield)
Maxwell House is built on a trapezoidal island plot with views from all four sides of the building, and currently comprises a 13-storey commercial building on a site of 41,799 sq ft.
The property is a two-minute walk to the upcoming Maxwell MRT Station on the Thomson-East Coast Line.
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“The launch of the earlier tender in September 2020 was uneventful as the market was still reeling from the economic fallout due to Covid-19,” says Christina Sim, director of capital markets at Cushman & Wakefield.
However, “the real estate market is now embarking on a path of recovery with developers looking at land banking again. Investors are coming back into action and confidence is returning to the market”, she says. “With these encouraging signs, we expect interest in this site to be robust.”
The tender for 20 Maxwell Road will close on May 6 at 3pm.
Check out the latest listings near Maxwell House, Maxwell MRT Station