Sim Lim Square retail mall makes second run for collective sale

Sim Lim Square retail mall is up for collective sale under a second tender, following the discovery of an extra 27 per cent built-up space.

SLP International Property Consultants Pte Ltd said the mall, located at the apex of the Ophir-Rochor corridor, will be put up for collective sale via public tender on Dec 16, 2019.

Built in 1985, the strata titled retail mall is a 99-year leasehold site sitting on 78,152 sq ft of land, comprising six storeys, two basements and 492 commercial units.

The shopping centre has been widely recognised as a one-stop mall for electrical goods and services since the 1980s.

SLP said the discovery of an extra 27 per cent built-up space from the current 391,000 square feet to 499,715 square feet, as seen in the planning documents, could be the result of some land being surrendered for road reserve.
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It said this could be a reason for the apparent higher built-up area in the building, subject to verification and approval from the authorities.

The expected asking price for Sim Lim Square is in excess of S$1.25 billion. The tender closing date is on Dec 30, 2019.

Source: CNA – 16 Dec 2019

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