Sim Lim Square Launch En Bloc Sale in 2019 at S$1.25b

Sim Lim Square Launch En Bloc Sale in 2019 at S$1.25b

The Highest Land Rate Price Ever Set (S$3,197 Psf ppr) in En Bloc History

Sim Lim Square, one of the famous IT Mall in Singapore has finally launch for collective sale with a target price of S$1.25 billion.

The District 7 commercial property was built in 1985 with a 99-yr leasehold tenure and it has 63 years remaining.

The commercial site covers an area of 78,152 sq ft and comprises of 492 commercial units on its 6 levels and 2 basement levels.

After the asking price was raised from $1.1 billion to $1.3 billion in February this year 2019, more than 80% of its owners have consented the sale.

As per the URA Master Plan, the site is zoned for commercial use with a plot ratio of 4.2 with recently approved gross floor area of 391,000 sq ft.

Upon successful sale, each owner will stand to receive between $488,000 to $67.5 million, depending on their unit types and sizes, announced by SLP Scotia the marketing agent of this en bloc sale.

SLP Scotia also added that Sim Lim Square situated at a strategic and advantage location in the Ophir-Rochor Corridor and is surrounded by lifestyle amenities with many interesting places.

For best use of this commercial site, incoming buyer should convert into a mixed-use development which include a hotel and office space.

The public tender of Sim Lim Square shall close at 3pm on June 24, 2019

Sim Lim Square En Bloc Details

Tenure: 99-yr leasehold

Land Size: 78,146 square feet

Total Units: 492

Plot Ratio: 4.2

Address: 1 Rochor Canal Road

District: 7

Marketing Agent: SLP Scotia

Reserve Price: S$1.25 billion
S$3,197 psf ppr

Status: For Sale
Tender Close: June 24, 2019
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