trending Market Intelligence /marketintelligence/en/news-insights/trending/18rlpwhhgzi8-mkasocgrw2 content esgSubNav
In This List

Singapore commercial site enters en bloc sale market at S$425M reserve price

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Singapore commercial site enters en bloc sale market at S$425M reserve price

The Goldhill Shopping Centre in Novena, Singapore, made its way into the en bloc sale market at a S$425 million reserve price as proposed, The (Singapore) Business Times reported, citing Cushman & Wakefield, which is overseeing the tender exercise.

The three-story, 87-unit property hit the market at a price tag of S$315 million in 2008, but was not sold.

The 62,422-square-foot plot that Goldhill Shopping Centre is located on comprises three commercial blocks that offer retail space on the ground floor. With a 3.0 plot ratio, the site's maximum gross floor area comes to about 187,266 square feet.

Factoring in an approximately S$61.2 million development charge, the land rate for the freehold site amounts to roughly S$2,597 per square foot per plot ratio.

The tender, representing the first fully-commercial collective sale site in 2018, will close June 27 at 3 p.m. Singapore time, the May 14 report noted.

As of May 11, US$1 was equivalent to S$1.34.