Sultan Plaza launches collective sale with reserve price of S$380m
The price works out to a land rate of approximately S$1,860 psf ppr for the 99-year leasehold development
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SULTAN Plaza - a 244-unit, 99-year leasehold development located on Jalan Sultan just off Beach Road - is up for collective sale, after receiving a mandate from over 80 per cent of the owners in favour of the en bloc exercise.
The full commercial site will launch a public tender on Wednesday with a reserve price of S$380 million. The tender will close on Thursday, Mar 28 at 12 noon. The reserve price works out to a land rate of approximately S$1,860 per square foot per plot ratio (psf ppr), inclusive of development charges and differential premium payable.
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