28 Mar '14, 12pm

More units in older buildings put up for mortgagee sale

The quarter saw two units in Golden Mile Complex and one in Orchard Plaza put up by banks, compared to only one shop unit for the entire 2013. The industrial sector, which is also affected by the various governmental regulations, such as the Seller’s Stamp Duty saw two properties at WCEGA Tower (at Bukit Batok Crescent) being put up as mortgagee sales. Six properties were sold in the first quarter of the year and four of those were forced sale/mortgagee listings, including a shop unit at Golden Mile Complex which was sold for $550,000, and three residential units. The other properties sold were put up by owners. A strata-titled factory unit at Enterprise Hub located in Jurong was hammered down at $1.21 million, while four adjoining office units at Orchard Shopping Centre were collectively sold for $8.55 million. Colliers International Deputy Managing Director, Grace Ng sai...

Full article: http://www.commercialguru.com.sg/property-management-news...

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