Category Archives: En-bloc / Collective Sales

Henley Industrial Building up for collective sale

Posted on 30 May 2013 | Comments Off on Henley Industrial Building up for collective sale

The Henley Industrial Building was put up for collective sale on Tuesday.

The four-storey industrial building at Upper Paya Lebar Road has an area of approximately 27,161 square feet with 17 existing units.

Marketing agent CBRE said the building has a reserve price of S$37 million.

This works out to S$545 per square foot (psf) per plot ratio and a breakeven cost of about S$792 psf.

No development charge is expected to be payable.

CBRE added that the building gives a single user the opportunity to develop a standalone freehold industrial building with naming rights.

Alternatively, it can be developed into a strata title industrial building to cater to Small & Medium Enterprises who wish to own their business premises.

The tender closes on July 5, 2013.

Source CNA – 29 May 2013

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Posted in En-bloc / Collective Sales, Office / Retail / Industrial

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Old Siglap flats to be demolished

Posted on 20 May 2013 | Comments Off on Old Siglap flats to be demolished

Four blocks of low-rise HDB flats  at the junction of East Coast Road and Siglap Road are set to be demolished under the Selective En Bloc Redevelopment Scheme (SERS), The Straits Times reported.

Officially opened in 1964 by Siglap assemblyman Rahim Ishak, the flats were built to house residents whose homes were destroyed by a fire in 1962.

The development was never upgraded despite having no lifts and each block is served by a single staircase. Most of the 117 units are two-bedders, with a third comprising rental flats.

54-year old resident Mary Lee, a social welfare worker, said: “This place is very quiet and very peaceful. I will miss this place because I go to East Coast Park for exercise every day and the food here is very nice.”

Meanwhile, SERS provides the current flat owners with priority in acquiring units at a new site in Chai Chee Road at subsidised prices. Shopkeepers who qualify for compensation will receive S$60,000 and 10 percent off the rent if they open in another HDB block.

But some shopkeepers feel this means the end of their business. At least half of the 10 shops plan to close for good, while others remain uncertain about their future.
Source – PropGuru – 20 May 2013

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