Ageing buildings take another crack at going en bloc

Singapore

SOME ageing buildings in the Orchard vicinity are hopping on the collective sale bandwagon, with Tanglin Shopping Centre (TSC) and Orchard Towers among those eyeing a collective sale, The Business Times understands.

TSC, which is mounting its fourth attempt, is gunning for a reserve price of S$785 million. This works out to a little over S$2,500 per square foot per plot ratio (psf ppr) based on the gross floor area of approximately 313,000 square feet (sq ft).