Reserve price for proposed collective sale of Wintech Centre raised to $98 mil

The business owners of Wintech Centre, a strata-titled light commercial building at 6 Ubi Road 1, are one move closer to launching the estate for en bloc sale.

Created by Chiu Teng Group, a real property builder and also construction conglomerate specialising in business as well as industrial buildings, Wintech Centre was finished in 2001. The eight-storey facility has a 60-year contract from 1997. It has a total amount of 104 strata units which are owned by 84 branch proprietors.

Lim notes that Wintech Centre is actually commencing to earn interest ahead of the cumulative sale launch. “We’ve had some queries from certain investors, including a REIT fund,” he tells. He watches the present environment as an appropriate time to start the sale, particularly coming off the recent property cooling actions that happed into impact last December. “Offered [the steps], we think additional need will be observed for commercial properties,” he claims.

Tembusu Grand condominium

For the cumulative sale, Weston Vision Realty has been appointed as the single marketing representative, and Tan & Au LLP has indeed been appointed as the legal representative.

The collective sale committee (CSC) for the property development was designated in August 2021 and has since been actually trying to acquire the needed consent from most of owners. “I believe it’s most likely we’ll be obtaining the 80% confirmation very soon,” claims Ken Lim, chairman of the CSC. The suggested reserve price for the ideal collective sale, recently evaluated $84 million, has actually been revised to $98 million.

The CSC’s positive outlook follows the sale of J’Forte Property, a high-spec industrial structure situated less than a 10-minute trip from Wintech Centre, early on this year. On Jan 30, Metro Holdings and also Boustead Projects revealed in which they, together with an independent institutional third-party, were mutually obtaining J’Forte Structure for $98.8 million. The deal of the eight-storey property on Tai Seng Road was brokered by Knight Frank.

Under the URA Master Plan, the structure is area for B1 commercial usage with an authorized gross plot ratio of 2.5. The commercial property sits on an acreage of 64,713 sq ft including the present gross floor area is 161,782 sq ft.

Wintech Centre is located within 361m of the MacPherson MRT Station, which is an interchange for the Circle and Downtown Lines. It is just one stop from Paya Lebar MRT Interchange Station for the East-West and Circle Lines. The building is additionally positioned near Tanjong Katong Complex, Joo Chiat Complex plus City Plaza.

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