Clementi Mall tender attracts 6 bids

A total of six bids have been submitted for the Clementi Mall development.

The highest bid came from CM Domain Pte Ltd at S$541.898 million.

CM Domain is a fully-owned subsidiary of Singapore Press Holdings, with investment holding being its principal business.

The lowest bid came from Sim Lian Holdings at S$170 million.

Other bidders included Titanium (AMT) Pte Ltd, Guthrie (Anshan) Pte Ltd, FC Retail Trustee Pte Ltd, HSBC Institutional Trust Services and Lend Lease Retail Investments.

Clementi Mall, located at the junction of Commonwealth Avenue West and Clementi Avenue 3, in the western region of Singapore, is being sold on a 99-year lease. It is a retail mall being developed at Clementi Town Centre.

According to Jones Lang LaSalle, which is managing the sale, the permissible Gross Floor Area (GFA) is approximately 25,000 square metres.

It said the eventual buyer will have the full flexibility to plan and strategise the theme and concept, internal finishes and layout to maximise the full potential of the property.

Source : Channel NewsAsia – 10 Nov 2009

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