Siglap Shopping Centre relaunches for collective sale at $120 mil
Siglap Shopping Centre (Picture: OrangeTee Advisory)
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SINGAPORE (EDGEPROP) - Siglap Shopping Centre has been relaunched for collective sale for the second time, at an unchanged guide price of $120 million, according to OrangeTee Advisory, which is marketing the property. (See also: Two freehold shop units in Siglap Shopping Centre going for $8.8 mil)
The property was first put up for collective sale in October 2020, but reportedly failed to receive bids that met the reserve price then. Information on the number of bids received and the price of the bids were not made available.
Completed in the 1980s, the three-storey development comprises eight residential units and eight ground-floor commercial units on a 39,635 sq ft site.
After factoring an estimated development charge of $47.47 million and an estimated alienation cost of $7.2 million for the state land, the reserve price works out to $1,235 psf per plot ratio, after factoring in a 7% bonus residential gross floor area for private outdoor spaces, says the firm.
The tender for the property will open on Aug 5 and close on Sept 1, at 3pm.
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