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Singapore condominium hits en bloc market with S$270M reserve price

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Singapore condominium hits en bloc market with S$270M reserve price

A 134-unit condominium building on Upper Changi Road East in Singapore was placed on the en bloc market by its owners for the first time with a S$270 million reserve price, The (Singapore) Business Times reported, citing marketing agent JLL.

Cascadale occupies a 167,528-square-foot freehold residential site, which has a 1.6 gross plot ratio and a maximum building height of 12 stories, subject to approval from authorities, the report noted.

With government approval and payment of development charges, a condominium project housing up to 292 units may be built on the site, according to the May 28 report. JLL added that a serviced residences development can also be constructed subject to permission from relevant authorities.

The tender for Cascadale will close July 10.

As of May 27, US$1 was equivalent to S$1.38.