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City Plaza owners make collective sale attempt

angela.teo@bizedge.com

City Plaza — across the road from the future Paya Lebar Quarter and ONE KM mall — is making a collective sale attempt. “We are making a final decision on the appointment of a consultant and lawyer, and will make an announcement soon,” says Derrick Chan, chairman of the collective sale committee.

Built in 1981, the freehold mixed-use development has a total of 531 units (465 strata retail and 66 residential). Two 172 sq ft retail units on the third floor were just sold on Nov 27 at $740,000 ($4,297 psf) each.

So far, 70% of the owners have agreed to the sale, says Chan.

 

Long shot of City Plaza

(Credit: Samuel Isaac Chua/The Edge Singapore)

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