Savills Singapore, the mall's marketing agent, said on Wednesday that Tanglin Shopping Centre has been sold for S$868 million after its fourth collective sale effort (Feb 23). The building was sold to Pacific Eagle Real Estate, a Singapore-based developer owned by the Tanoto family, who has for over 50 years developed and managed the Royal Golden Eagle group of companies, which produces natural fibers,...
Tanglin Shopping Centre is trying for an en bloc sale for the second time. It failed to find a buyer on its first attempt last year at a reserve price of S$1.25 billion. In fact, there has never been a successful en bloc sale in the Orchard Road shopping belt. Teresa Wong purchased a freehold shop spanning 330 square feet at Far East Plaza 25 years ago. For the beauty therapist, the need to control...
After its proposed en-bloc sale fell through earlier this year, Tanglin Shopping Centre is turning its attention to rejuvenating the mall and reminding shoppers it is still open for business. The 40-year-old shopping centre took out a full-page newspaper advertisement yesterday, declaring: "We are staying". Management council member Anil Bhatia, who sat on the now-dissolved en bloc committee, told Today...
The sale of Tanglin Shopping Centre will drag on for at least another month. Millennium and Copthorne Hotels (M&C Hotels) said in a statement released yesterday that the collective sale agreement for the potential sale of Tanglin Shopping Centre - with a price tag of about S$1.25 billion - has been extended by one month until Sept 26. The collective sale of Tanglin Shopping Centre was revealed in...
Owners of Tanglin Shopping Centre in Tanglin Road have put the building up for collective sale, which could be the biggest of its kind in the area. The property now comprises 363 shop, office and medical units, but can be redeveloped to have homes, shops, offices, or hotel rooms. Reports have put the reserve price for Tanglin Shopping Centre at $1.25 billion. This works out to a record price of about...
Millennium & Copthorne Hotels said its unit has signed a collective sales agreement to put Tanglin Shopping Centre up for sale. Under the terms of the agreement, a sales committee has been authorized to negotiate and finalize the collective sale of the shopping-cum-office development situated at Tanglin Road. This sales committee has also been authorised to enter into a sale and purchase agreement on...
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