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Collective sale for a relaunched Siglap Shopping Centre at $120 mil

Aug 9

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.

One Bernam singapore, a new condo development developed by MCC Land. Target to launch in 2020/2021.

The property was initially put up for sale in October 2020. However, it did not receive any bids that met its reserve price. The number of bids received, and the prices of the bids, were not available.
The three-story development was completed in 1980 and includes eight residential units as well as eight ground-floor commercial units. It covers 39,635 square feet.

The firm estimates that the estimated development cost for the state land is $47.47m and the alienation cost for $7.2m for the state land are both factors in the reserve price. This ratio includes a 7% bonus residential floor area for outdoor spaces.

The property tender will open Aug 5, and close Sept 1, at 3pm.