{"id":121263,"date":"2021-08-05T02:03:35","date_gmt":"2021-08-04T19:03:35","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil\/"},"modified":"2021-08-05T11:34:40","modified_gmt":"2021-08-05T04:34:40","slug":"siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/siglap-shopping-centre-relaunched-for-en-bloc-sale-price-unchanged-at-120mil\/","title":{"rendered":"Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120mil"},"content":{"rendered":"


\nSiglap 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
\nSiglap Shopping Centre along East Coast Road has been relaunched for collective sale via public tender with the guide price unchanged at $120 million, revealed marketing agent OrangeTee Advisory.
\nFeaturing eight commercial units on the ground floor and eight apartments, the three-storey development in District 15 was completed in the 1980s and sits on a 39,635 sq ft site.
\nOrangeTee noted that there is an adjoining state land of around 5,005 sq ft that could be combined with the freehold site to form a bigger plot of about 44,640 sq ft, subject to the relevant authorities\u2019 approval.
\n\u201cTogether with 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 per sq ft per plot ratio (psf ppr), after factoring in a 7% bonus residential gross floor area for private outdoor spaces,\u201d it said.
\nOrangeTee Advisory Executive Director Edmund Lee said the reserve price for Siglap Shopping Centre now looks relatively attractive considering \u201chow bid prices for similarly designated leasehold government land sites have risen quite substantially\u201d.
\nNotably, a 651,001 sq ft site at Lentor Central was recently awarded for $1,204 psf ppr, which was 7% higher compared to the winning bid of $1,129 psf ppr for the Northumberland Road site awarded in April this year. It was also 30% higher than the $930 psf ppr winning bid for the Tanah Merah Kechil Link site awarded in September last year. All three land parcels come with 99-year lease tenure.
\nLee said the site could be developed into a \u201cprominent mixed-use development that caters to the lifestyles of residents in the vicinity\u201d.
\n\u201cIt is a sweet spot for developers seeking investments with a redevelopment quantum of around $200 million,\u201d he added.
\nThe tender for Siglap Shopping Centre closes on 1 September.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Siglap Shopping Centre relaunched for en bloc sale, price unchanged at 0mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Siglap Shopping Centre relaunched for en bloc sale, price unchanged at $120milThe site could be...<\/p>\n","protected":false},"author":1,"featured_media":121264,"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-121263","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/08\/Siglap-Shopping-Centre-crop.jpg?fit=820%2C411&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vxR","jetpack-related-posts":[{"id":84828,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/united-mansion-up-for-en-bloc-sale-with-reserve-price-of-98m\/","url_meta":{"origin":121263,"position":0},"title":"United Mansion up for en bloc sale with reserve price of $98m","date":"April 9, 2018","format":false,"excerpt":"\r Completed in 1968, United Mansion in Siglap is located close to Parkway Parade, I12 Katong and various schools. (Photo: Cushman & Wakefield) The freehold United Mansion development at 592 to 614 East Coast Road has been launched for collective sale at a reserve price of $98 million, marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103222,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/grange-heights-relaunched-at-the-same-price\/","url_meta":{"origin":121263,"position":1},"title":"Grange Heights relaunched at the same price","date":"January 23, 2019","format":false,"excerpt":"\r The freehold development is located near Orchard Road and Somerset MRT station. (Photo: Colliers International) Homeowners at Grange Heights have decided to relaunch the collective sale tender for the freehold development along St. Thomas Walk despite the softer market. The reserve price remains unchanged from its second tender exercise\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103907,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spanish-village-goes-en-bloc-for-the-third-time\/","url_meta":{"origin":121263,"position":2},"title":"Spanish Village goes en bloc for the third time","date":"February 12, 2019","format":false,"excerpt":"\r The residential property has been relaunched for en bloc sale with the guide price unchanged at $882 million. (Photo: ET&Co) Spanish Village, a 226-unit residential development along Farrer Road, has been relaunched for en bloc sale with the guide price unchanged at $882 million, said marketing agent Edmund Tie\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51777,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunosville-put-up-for-en-bloc-sale\/","url_meta":{"origin":121263,"position":3},"title":"Eunosville put up for en bloc sale","date":"April 13, 2017","format":false,"excerpt":"\r The owners are expecting offers of up to $653 million, which would make the estate the biggest en bloc sale in recent years.\u00a0 Former Housing and Urban Development Company (HUDC) estate Eunosville has been put up for collective sale, with the owners expecting offers of between $643 million and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121785,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fortune-park-relaunched-for-en-bloc-sale-with-115mil-tag\/","url_meta":{"origin":121263,"position":4},"title":"Fortune Park relaunched for en bloc sale with $115mil tag","date":"September 2, 2021","format":false,"excerpt":"\r Fortune Park relaunched for en bloc sale with $115mil tagFeaturing 68 apartment units, the freehold development occupies a 44,878.34 sq ft site with a gross plot ratio of 2:1 under the 2019 Master Plan. Photo: ERA Fortune Park, a 10-storey residential block at 109 Tampines Road, has been relaunched\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/fortune-park-era.png?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":104889,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/selegie-centre-sold-en-bloc-for-120m\/","url_meta":{"origin":121263,"position":5},"title":"Selegie Centre sold en bloc for $120m","date":"March 11, 2019","format":false,"excerpt":"\r Katong Plaza, another mixed-use development, has been relaunched for en bloc sale at an asking price of $188 million ($1,968 psf ppr). 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