Sim Lim Square makes second run for collective sale

SINGAPORE — Sim Lim Square is up for collective sale under a second tender, following the discovery of an extra 27 per cent built-up space.

SLP International Property Consultants said the mall, located at the apex of the Ophir-Rochor corridor, will be put up for collective sale via public tender on Monday (Dec 16).

Built in 1985, the strata titled retail mall is a 99-year leasehold site sitting on 78,152 sq ft of land, comprising six storeys, two basements and 492 commercial units. 

Sim Lim Square has been widely recognised as a one-stop mall for electrical goods and services since the 1980s.

SLP said the discovery of an extra 27 per cent built-up space from the current 391,000 square feet to 499,715 square feet, as seen in the planning documents, could be the result of some land being surrendered for road reserve.

It said this could be a reason for the apparent higher built-up area in the building, subject to verification and approval from the authorities.

The expected asking price for Sim Lim Square is in excess of S$1.25 billion. The tender closing date is on Dec 30, 2019. CNA

For more stories like this, visit cna.asia