Roxy Square’s S$1.25 billion collective sale closes with no bids
Appetite for en bloc sites may not pick up any time soon despite the Federal Reserve’s oversized interest-rate cut, according to market watchers
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ROXY Square’s collective sale tender closed on Thursday (Sep 26) with no bids, after the freehold mixed-use development in Katong was launched for sale in July at a guide price of S$1.25 billion.
JLL executive director of capital markets Tan Hong Boon told The Business Times: “At the close of tender today, no bids were received. The collective sale is now moving into a 10-week private treaty process, in which negotiations will be taking place during this period with a few interested parties.”
Roxy Square’s guide price reflects a land rate of about S$2,094 per square foot per plot ratio (psf ppr) and is inclusive of land betterment charge at the base gross plot ratio of 3.86.
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