High Street Centre gets offer of under S$700 million for collective sale

HIGH Street Centre has received an offer of under S$700 million, more than 6 per cent below its reserve price of S$748 million, after its en bloc sale tender closed on Monday (Jun 24).

The owners are now in the midst of collecting signatures to get an 80 per cent mandate to cut the reserve price. Currently, around 65 per cent of them are in favour of the change.  

Marketing agent Cushman & Wakefield declined to confirm the offer price or the identity of the prospective buyer.