{"id":104889,"date":"2019-03-11T11:48:26","date_gmt":"2019-03-11T04:48:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/selegie-centre-sold-en-bloc-for-120m\/"},"modified":"2019-03-11T12:03:46","modified_gmt":"2019-03-11T05:03:46","slug":"selegie-centre-sold-en-bloc-for-120m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/selegie-centre-sold-en-bloc-for-120m\/","title":{"rendered":"Selegie Centre sold en bloc for $120m"},"content":{"rendered":"


\nKatong Plaza, another mixed-use development, has been relaunched for en bloc sale at an asking price of $188 million ($1,968 psf ppr).
\nMixed-use development Selegie Centre has finally been sold at its $120 million reserve price, or $1,942 psf per plot ratio (psf ppr), following two failed en bloc attempts, reported the Straits Times.
\nThis means apartment owners at the 30-year-old development in District 7 will receive around $1.7 million, while shop owners will receive between $1 million and $12 million, depending on their unit size, revealed sales committee chairman M. Thomas.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\n\u201cThe building needs many repair works to be done and it is timely for (it) to be revamped,\u201d he said.
\n\u201cWe believe that the redeveloped building will be a landmark for the overall outlook of the Tekka or Little India precincts\u2026It will form an integrated resort atmosphere for visitors passing through Selegie or Serangoon and Little India,\u201d he added.
\nLocated at the junction of Mackenzie and Selegie roads, bordering the central business district, the freehold property features 25 apartment units and 33 shops.
\nThe 10-storey development, which was marketed by Property Link Services, is also within walking distance to the Rochor, Little India and Dhoby Ghaut MRT stations.
\nIt is situated on the former site of the city-state\u2019s transport hub in the 1950s and 1960s, boasting a gross floor area of slightly over 60,000 sq ft.
\nSelegie Centre\u2019s buyer, Peak Tower Corp \u2013 which is backed by a developer and industrialist from Indonesia \u2013 hopes that zoning for the building will be changed as it intends to build a commercial complex or hotel there.
\nMeanwhile, mixed-use development Katong Plaza has been relaunched for en bloc sale at an asking price of $188 million ($1,968 psf ppr), reported Singapore Business Review.
\nThe price includes a $13 million development charge.
\nWith Huttons Asia as marketing agent, the freehold development has secured approval from the Urban Redevelopment Authority for hotel use with a gross plot ratio of 3.0.
\nThe 34,044 sq ft site has an allowable maximum gross floor area of 102,133 sq ft and could yield up to 300 hotel rooms averaging 215 sq ft.
\nSituated seven stops away from Raffles Place MRT station, the property is 120m away from the future Marine Parade MRT station and is also 10 to 15 minutes\u2019 drive to the city centre and Changi International Airport.
\nThe tender for Katong Plaza will close on 9 April.
\nGet more details on the property market outlook for 2019 here
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Selegie Centre sold en bloc for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Katong Plaza, another mixed-use development, has been relaunched for en bloc sale at an asking...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-104889","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rhL","jetpack-related-posts":[{"id":121263,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil\/","url_meta":{"origin":104889,"position":0},"title":"Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120mil","date":"August 5, 2021","format":false,"excerpt":"\r Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120milThe site could be developed into a \u201cprominent\u00a0mixed-use development\u00a0that caters to the lifestyles of residents in the vicinity. Photo: OrangeTee Advisory Siglap Shopping Centre along East Coast Road has been relaunched for collective sale via public tender with\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Siglap-Shopping-Centre-crop.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":91726,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kemaman-point-in-district-12-sold-en-bloc-to-soilbuild-for-143-88m\/","url_meta":{"origin":104889,"position":1},"title":"Kemaman Point in District 12 sold en bloc to Soilbuild for $143.88m","date":"June 19, 2018","format":false,"excerpt":"\r The sale price of Kemaman Point works out to a land rate of about $1,173 psf ppr. (Photo: Knight Frank) Soilbuild Group has emerged victorious in the tender for the en bloc sale of Kemaman Point off\u00a0 Balestier Road in District 12, with a $143.88 million bid. Marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-house-in-district-10-sold-for-record-2910-psf-ppr\/","url_meta":{"origin":104889,"position":2},"title":"Park House in District 10 sold for record $2,910 psf ppr","date":"June 14, 2018","format":false,"excerpt":"\r The freehold development along Orchard Boulevard was sold to a unit of Hong Kong-listed Shun Tak Holdings for $375.5 million. (Photo: CBRE) Park House, a freehold 60-unit development along Orchard Boulevard in District 10 has been sold for $375.5 million, which works out to a record $2,910 psf per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93260,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-up-for-en-bloc-sale-for-1-1b\/","url_meta":{"origin":104889,"position":3},"title":"Horizon Towers up for en bloc sale for $1.1b","date":"July 6, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,964 psf per plot ratio. (Photo: JLL) Horizon Towers, a 211-unit residential development at Leonie Hill in District 9, has been launched for collective sale with a reserve price of $1.1 billion. Including the lease top-up premium of about\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":104889,"position":4},"title":"Four condos up for en bloc sale","date":"November 16, 2017","format":false,"excerpt":"\r Derby Court is a freehold condominium development located at 5, Derbyshire Road in District 11 near Novena MRT station. (Photo: JLL) Four residential developments, including the iconic Pearlbank Apartments in Outram, have been put up in separate tenders for en bloc sale. The others are Parkway Mansion in Katong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87006,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-properties-launched-for-en-bloc-sale\/","url_meta":{"origin":104889,"position":5},"title":"Two freehold properties launched for en bloc sale","date":"May 3, 2018","format":false,"excerpt":"\r Holland Tower in District 10 was put up for sale with a reserve price of $65 million. (Photo: SRI) More homeowners are trying their luck at collective sales, with two freehold developments launched at a combined price of $103 million. The Holland Tower condominium in District 10 was put\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104889"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=104889"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/104889\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=104889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=104889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=104889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}