{"id":69988,"date":"2017-10-25T12:49:42","date_gmt":"2017-10-25T05:49:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-commercial-properties\/"},"modified":"2017-10-25T15:03:50","modified_gmt":"2017-10-25T08:03:50","slug":"en-bloc-fever-spreads-to-commercial-properties","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-commercial-properties\/","title":{"rendered":"En bloc fever spreads to commercial properties"},"content":{"rendered":"


\nView of Singapore skyline. (Photo: Wikimedia Commons)
\nMore commercial and mixed-use projects are joining the en bloc sales frenzy after a number of residential developments have successfully changed hands, reported the Business Times.
\nFor instance, three integrated developments have been launched for collective sale. Owners of the freehold Tai Wah Building and Besar Plaza are asking for $81 million and $390 million respectively, which translates to $2,035 psf per plot ratio and $2,170 psf per plot ratio.
\nIn Yio Chu Kang, owners of ICB Shopping Centre hope to sell the property for $65 million to $70 million, which works out to between $1,390 psf and $1,500 psf.
\nOwners of the 119-unit retail mall Bugis Cube, previously known as North Bridge Commercial Complex, are also in the process of launching their collective sale.
\nMeanwhile, owners of Katong Shopping Centre in Mountbatten Road and Goldhill Centre in Novena have created collective sales committees. Both groups plan to decide on the reserve price during their upcoming extraordinary general meetings next month, according to their marketing agent Cushman & Wakefield.
\nHowever, experts noted that en bloc sales involving commercial buildings are often more complex and takes a longer time compared to those involving housing estates.
\nIn 2008, the 87-unit Goldhill Centre was put up for sale for $315 million or $1,496 psf based on its potential gross floor area (GFA). But the owners failed to secure a buyer for the site comprising a mix of freehold and 999-year leasehold commencing from 1970.
\nAs for the 425-unit Katong Shopping Centre, this marks its third attempt to find a buyer after its second sales exercise expired last April with a reserve price of $630 million or $2,248 psf per plot ratio based on its land area. For the latest en bloc attempt, they reappointed Cushman & Wakefield as marketing agent and retained the selling price.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…En bloc fever spreads to commercial properties<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of Singapore skyline. (Photo: Wikimedia Commons) More commercial and mixed-use projects are joining the...<\/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-69988","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-icQ","jetpack-related-posts":[{"id":71967,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/four-condos-up-for-en-bloc-sale\/","url_meta":{"origin":69988,"position":0},"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":83363,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/olina-lodge-verdun-house-launched-for-collective-sale\/","url_meta":{"origin":69988,"position":1},"title":"Olina Lodge, Verdun House launched for collective sale","date":"March 22, 2018","format":false,"excerpt":"\r Completed in 1990, the freehold Olina Lodge has a reserve price of $220 million. (Photo: SRI) The collective sales fever continues to heat up with the recent launch of two freehold developments \u2013 Olina Lodge and Verdun House, revealed marketing agent Singapore Realtors Inc (SRI). Located at 15 Holland\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":69988,"position":2},"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":[]},{"id":102740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/flynn-park-choon-kim-house-lower-prices-for-another-en-bloc-attempt\/","url_meta":{"origin":69988,"position":3},"title":"Flynn Park, Choon Kim House lower prices for another en bloc attempt","date":"January 7, 2019","format":false,"excerpt":"\r Most of the owners at Flynn Park off Pasir Panjang Road have agreed to a lower asking price. (Photo: JLL) Two freehold developments \u2013 Flynn Park and Choon Kim House \u2013 have relaunched their en bloc sale tenders at lower reserve prices, revealed marketing agent JLL on Friday (4\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-small-condo-projects-up-for-en-bloc-sale\/","url_meta":{"origin":69988,"position":4},"title":"Two small condo projects up for en bloc sale","date":"July 5, 2018","format":false,"excerpt":"\r The 12-unit Jansen Mansion along Jansen Road sits on a 16,592.55 sq ft site. (Photo: Huttons Asia) Two small condo developments \u2013 Jansen Mansion and Blossom Mansions \u2013 have joined the collective sale bandwagon, carrying a price tag of $22 million and $32.8 million respectively, revealed marketing agent Huttons\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":86623,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sale-fever-hits-lakeside-towers-jalan-besar-plaza\/","url_meta":{"origin":69988,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69988"}],"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=69988"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/69988\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=69988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=69988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=69988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}