29 Aug '14, 2pm

Still no go for collective sale of Tanglin Shopping Centre, S'pore Property News, S'pore Property Guides & Articles

Still no go for collective sale of Tanglin Shopping Centre, S'pore Property News, S'pore Property Guides & Articles

The 44-year-old Tanglin Shopping Centre comprises shops, eateries, medical suites and offices. The first attempt at a collective sale in 2011 fell through when the reserve price of $1.25 billion was not met. -- ST PHOTO: NG SOR LUAN AN AGEING Orchard Road landmark has failed in its second collective sale attempt, as not enough owners want the property to go on the market. Owners of the strata-titled Tanglin Shopping Centre did not manage to garner the required consent of 80 per cent of owners before the collective sale agreement expired at midnight on Wednesday. The owners who signed the collective sale agreement represented a 69.36 per cent stake in the property. The property has 173 owners in total. For the building to be put on the market, owners of 80 per cent of the property - by both share value and strata area - must sign the agreement before it expires. The sales c...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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The 44-year-old Tanglin Shopping Centre comprises shops, eateries, medical suites and offices. The first attempt at a coll...

Still no go for collective sale of Tanglin

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