{"id":121287,"date":"2021-08-06T04:09:01","date_gmt":"2021-08-05T21:09:01","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-international-plaza-gives-green-light-for-en-bloc-attempt\/"},"modified":"2021-08-06T13:05:07","modified_gmt":"2021-08-06T06:05:07","slug":"owners-of-international-plaza-gives-green-light-for-en-bloc-attempt","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/owners-of-international-plaza-gives-green-light-for-en-bloc-attempt\/","title":{"rendered":"Owners of International Plaza gives green light for en bloc attempt"},"content":{"rendered":"


\nOwners of International Plaza gives green light for en bloc attemptThis could potentially make\u00a0it the largest collective sale in the nation\u2019s history both in terms of units and value. Photo: Edmund Tie
\nInternational Plaza, a 50-storey development within the Central Business District (CBD), will soon be put up for collective sale, potentially making it the \u201clargest collective sale in the nation\u2019s history both in terms of number of units and value\u201d.
\nThis comes after owners with at least 80% in both strata area and share value had agreed to the development\u2019s first en bloc sale attempt.
\nOccupying a land area of about 0.7ha, International Plaza comprises a mix of 962 strata shops, residential apartments, office units, a privately held carpark as well as a swimming pool. Under the 2019 Master Plan, the site is zoned for \u201cCommercial use\u201d.
\nRecommended read:\u00a05 Mixed-Use Developments in Singapore: Live In a Condo Above A Shopping Mall!
\nIt enjoys dual frontage along Choon Guan Street and Anson Road and is near Tanjong Pagar MRT station on the East-West Line (EWL) and is situated at the gateway to the Greater Southern Waterfront.
\nThe collective sale committee for the property was formed in October 2018, with Edmund Tie appointed as the sole marketing agent in Q1 2019. Law firm Wee Swee Teow LLP was also advising the committee.
\nHowever, the en bloc sale exercise was \u201cdisrupted by the circuit breaker restrictions due to COVID-19 in 2020\u201d. The Ministry of Law granted the collective sale committee a six-month extension in February this year. The requisite consent by the owners was obtained prior to the 10 August deadline.
\nCollective Sale Committee Chairman, Kevin Liang expects the development to attract keen interest from local and foreign developers and funds, given its prime location within the CBD.
\n\u201cWith the announcement of the CBD Incentive Scheme by URA in March 2020, we are beginning to witness the exciting transformation of the CBD into a lively live-work-play destination,\u201d said Swee Shou Fern, Edmund Tie\u2019s Executive Director of Investment Advisory.
\n\u201cThe redevelopment of International Plaza is arguably the last piece in the jigsaw puzzle in the rejuvenation of the Tanjong Pagar precinct.\u201d
\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…Owners of International Plaza gives green light for en bloc attempt<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Owners of International Plaza gives green light for en bloc attemptThis could potentially make\u00a0it the...<\/p>\n","protected":false},"author":1,"featured_media":121288,"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-121287","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\/International-Plaza-photo-crop.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vyf","jetpack-related-posts":[{"id":86623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-hits-lakeside-towers-jalan-besar-plaza\/","url_meta":{"origin":121287,"position":0},"title":"Collective sale fever hits Lakeside Towers, Jalan Besar Plaza","date":"April 27, 2018","format":false,"excerpt":"\r The owners of Jalan Besar Plaza are expecting $380 million if the sale goes through. This is the freehold development\u2019s fourth en bloc attempt. Lakeside Towers and Jalan Besar Plaza are the latest properties to be put up for en bloc sale, with the owners expecting $30.5 million and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64126,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-owners-make-third-collective-sale-attempt\/","url_meta":{"origin":121287,"position":1},"title":"Park West owners make third collective sale attempt","date":"August 21, 2017","format":false,"excerpt":"\r Featuring a land area of 633,644 sq ft, Park West comprises 432 apartments and four shop units.\u00a0 Following two failed attempt at a collective sale in 2007 and 2011, condominium owners at Park West are hoping that their third try at an en bloc sale would be successful, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82713,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sim-lim-square-attempting-1-1-billion-en-bloc-sale\/","url_meta":{"origin":121287,"position":2},"title":"Sim Lim Square attempting $1.1 billion en bloc sale","date":"March 14, 2018","format":false,"excerpt":"\r Sim Lim Square is a six-storey retail mall completed in 1987. (Photo: SLP International Property Consultants)\u00a0 Popular IT mall Sim Lim Square is attempting to go en bloc following a second extraordinary general meeting that concluded successfully on Monday (12 Mar), revealed marketing agent SLP International Property Consultants. According\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78535,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/horizon-towers-owners-in-no-hurry-for-a-collective-sale\/","url_meta":{"origin":121287,"position":3},"title":"Horizon Towers owners in no hurry for a collective sale","date":"January 31, 2018","format":false,"excerpt":"\r While the number of collective sale sites on the market continues to grow, Horizon Towers may have to wait a bit longer before it could join in the frenzy. This comes as the collective sales committee, which started gathering signatures in November last year, is finding it hard to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/st-francis-court-up-for-en-bloc-at-95m\/","url_meta":{"origin":121287,"position":4},"title":"St Francis Court Up For En Bloc At $95m","date":"May 9, 2019","format":false,"excerpt":"\r In the event of a successful collective sale, the owners are expected to receive more than $1 million to $1.5 million in sales proceeds, depending on the size of their units. St Francis Court, an 11-storey residential development at 90 Saint Francis Road, has been put up for collective\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122838,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price\/","url_meta":{"origin":121287,"position":5},"title":"Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower price","date":"October 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower priceLocated\u00a0at 551 to 553 Bukit Timah Road and 6 to 8 Duke\u2019s Road,\u00a0the three adjoining mixed-use redevelopment sites has an asking price of $53.8 million. 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