Enbloc

Consortium buys conserved building Golden Mile Complex for S$700 million en bloc

The building will be "sensitively renovated," with special attention made to preserving its major features and unique terraced profile The Golden Mile Complex was sold for S$700 million to a consortium consisting of Perennial Holdings, Sino Land, and Far East Organization, according to Edmund Tie, the complex's sole marketing agent (May 6). This comes after the agency obtained "overwhelming support"...

Verdun House sold for $55.1m to Fragrance Group CEO

At a tender procedure that ended on April 26, 2022, Verdun House, an en bloc site in Farrer Park that is situated at the intersection of Verdun Road and Sam Leong Road, was sold for $55.1 million. The CEO of the Fragrance Group, Mr. James Koh, placed the highest offer. The transaction has the approval of the owners of 15 out of the 16 strata-titled apartments, or 93 percent of the complex. The Strata...

Possible revival of en bloc market in 2021 as developers look to replenish land banks: Analysts

The muted collective sales market could see a revival in the second half of next year, as developers turn to the private residential scene to feed a growing appetite for land, according to property analysts. This comes as the property market has remained resilient in the face of the COVID-19 pandemic and consequent economic uncertainty, said analysts. Just two en bloc deals totalling S$77.2 million...

Siglap Shopping Centre to go on collective sale for S$120 million

Siglap Shopping Centre will be put up for collective sale by public tender on Tuesday (Oct 27), with the reserve price for the freehold mixed-use site on East Coast Road set at S$120 million, marketing agent OrangeTee Advisory said on Monday. Completed in around 1980, the three-storey development at 883 to 903A East Coast Road is made up of eight residential units and eight commercial units sitting on...

Golden Mile Complex to be conserved, with incentives to attract developers in future en bloc sale: URA

The iconic Golden Mile Complex building, with its terraced facade facing Nicoll Highway, is being proposed for conservation because of its historical and architectural significance, the Urban Redevelopment Authority (URA) said on Friday. The decision, taken after a two-year-study, starts the process to have it gazetted as a conserved building. But to help ensure the move will not inhibit a future...

Upper Thomson freehold storage facility for sale with S$100m indicative price

A freehold strata-titled storage facility at 50 Tagore Lane has been put on the market via expression of interest with an indicative price of S$100 million, marketing agent Cushman & Wakefield said on Wednesday. The property comprises individual units with separate strata titles. It is being offered for sale together with an opportunity to buy the self-storage business of the seller, EBC Lifestyle...

Authorities to cap number of owners a proxy can represent at general meetings for en bloc sales

The number of owners a proxy can represent at general meetings for en bloc sales will be restricted from January 2021, said the Ministry of Law (MinLaw) on Tuesday (Sep 29). Under the Land Titles (Strata) Act (LTSA), an owner of a strata-titled property may appoint a proxy to attend general meetings for en bloc sales and vote on proposals that are submitted at such meetings. The proxy can also vote on...

Geylang’s Advance Apartment owners eyeing over S$26.5m from collective sale

Freehold site Advance Apartment at 8 Lorong 25A Geylang is now available for collective sale by tender, after more than 80 per cent of the owners gave their consent, sole marketing agent JLL said on Monday. The owners are expecting bids in excess of S$26.5 million, the agent added. That works out to a land rate of about S$877 per square foot per plot ratio (psf ppr), or S$861 psf ppr after factoring...

Maxwell House up for collective sale with S$295m reserve price

Commercial building Maxwell House has been launched for collective sale via a public tender, the appointed property consultant Cushman & Wakefield announced on Monday. Owners holding not less than 80 per cent by strata area and share value have agreed to put the property on the market at a reserve price of S$295 million. Located at 20 Maxwell Road, the 13-storey property is built on a trapezoidal...

Covid-19 brings already slowing en bloc market to a halt

There has been no successful collective sale of residential sites in Singapore since the Covid-19 pandemic started, bringing the en bloc market, which has been slowing down since the July 2018 cooling measures, to a halt. Checks with property analysts showed that there have been six launches and only one deal closed in early January before the coronavirus outbreak hit Singapore’s shores. In...

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