- News
- Peace Centre/Peace Mansion tries for en bloc again with S$650m reserve price
Peace Centre/Peace Mansion tries for en bloc again with S$650m reserve price
By Vivienne Tay, Business Times / 06-Sep-2021
PEACE Centre/Peace Mansion (PCPM) has been put on the market for collective sale once again. This time, the owners are expecting offers in excess of S$650 million, sole marketing agent JLL said on Monday.
The minimum price of S$650 million reflects a unit land rate of about S$1,443 per square foot per plot ratio, after including an estimated lease top-up premium, but before factoring in bonus balcony plot ratio for the residential component.
The property was previously launched for en bloc in March 2019 with a reserve price of S$688 million. The owners later received in-principle approval from the Singapore Land Authority for a lease top-up to 99 years in April 2019.
PCPM, which is located at 1 Sophia Road, was built around 1977. It comprises 232 commercial units, 86 apartments and a carpark with 162 lots, totalling 319 strata lots in a 10-storey front podium block and a rear 32-storey tower.
More than 80 per cent of the owners have consented to the collective sale, JLL said.
The 76,617 square-foot (sq ft) site the property sits on has a verified gross plot ratio of about 7.89 and may be redeveloped up to a height of 55 metres Singapore height datum, with part of the site potentially rising as high as 67 metres.
More News
Strata office deals inch up 1.8% to S$1.2 billion, average price climbs 15% in 2023: Knight Frank
By Samuel Oh, Business Times / 05-Feb-2024
Knight Frank expects the strata office market to run up a total transaction value of S$1 billion in 2024
Read More
DBS puts up shophouses for sale to recover loans amid money laundering probe
By Joyce Lim, The Straits Times / 28-Jan-2024
Market observers noted that FTI’s listings of the 10 shophouses did not indicate a guiding price. They estimated them to be valued at more than $100 million combined
Read More
Islandwide net office demand nearly doubles in 2023, URA central region office index up 13.1%
By Kalpana Rashiwala, Business Times / 26-Jan-2024
Analysts see slowing demand and moderating rental growth though pent-up demand in H2 could provide a boost
Read More
Shophouse market slows amid money laundering scandal; sellers more open to negotiation
By Joyce Lim, The Straits Times / 23-Jan-2024
Meanwhile, leasing activity remained resilient, driven by a recovery in tourism
Read More
Allgreen Properties in exclusive due diligence to buy Seletar Mall
By Kalpana Rashiwala, Business Times / 15-Jan-2024
Word in the market is that the price could be about S$520 million
Read More