The public tender for the collective sale of the largest privatized estate in Singapore was relaunched with an unchanged S$2.08 billion reserve price after failing to attract a single bid in its previous attempt in May, The (Singapore) Business Times reported, citing marketing agent Colliers International Group Inc.
Braddell View occupies a 1.14 million-square-foot site with a roughly 102-year term lease that commenced Feb. 1, 1978. The property features 918 residential units and two commercial shops, according to the publication.
The latest en bloc sales effort for the development site, which can be redeveloped into a residential project comprising up to 2,620 new homes, will remain open until Sept. 25, the Aug. 13 report added.
As of Aug. 13, US$1 was equivalent to S$1.38.