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Singapore mall returns to collective sale market with S$1.25B price tag

The Sim Lim Square mall along Rochor Canal Road in Singapore made a comeback in the city-state's collective sale market with an unchanged reserve price of more than S$1.25 billion, The Straits Times reported.

The latest reiteration of the public tender for the retail property will run until Dec. 30, with an offer for an extra 27% of built-up space plus the possibility of lower development charges. Vikas Gupta, chairman of Sim Lim Square's collective sale committee, said the six-story property has a net lettable area of 237,066 square feet. The mall occupied 8,066.7 square meters, but some land was surrendered to the road reserve in the past, leaving the current land area of 7,260.6 square meters, he added.

The 492-unit mall with a floor area of 22,007 square meters is fully zoned for commercial use and has 63 years remaining on its lease. It is mostly occupied by electronics and IT goods and services retailers, the Dec. 17 report added.

Sim Lim Square's first sale attempt closed July 22 after it received no formal bids.

As of Dec. 17, US$1 was equivalent to S$1.35.