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by OrangeTee & Tie Pte Ltd.

Siglap Shopping Centre relaunched for collective sale; price unchanged at S$120m

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Singapore, 04 Aug 2021

LOCAL real estate consultancy OrangeTee Advisory on Wednesday announced it is relaunching Siglap Shopping Centre for collective sale in view of recent trends of aggressive bidding for government land sites.

As with its previous effort in late October last year at putting the freehold site up for sale, its guide price for the 39,635 square foot land parcel remains at S$120 million - translating to S$1,235 per square foot per plot ratio (psf ppr), factoring in a 7 per cent bonus residential gross floor area for private outdoor spaces.

A spokesperson for OrangeTee Advisory told The Business Times that bids submitted in the previous tender round did not meet the set reserve price, and so were not followed through. Information was not available regarding how many bids were received and from whom at the time, as well as the range of prices that were offered, however.

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