Braddell View's latest en bloc attempt again closes without bids

Thu, Sep 26, 2019

NISHA RAMCHANDANI


THE tender for Singapore's largest private residential site, Braddell View estate, has closed without any bids after it was relaunched for collective sale at an unchanged price of S$2.08 billion.

In response to queries, Tang Wei Leng, managing director for marketing agent Colliers International, said: "The collective sale tender for Braddell View estate closed at 3pm on Sept 25 without bids. The Braddell View collective sale committee has instructed Colliers to enter into private treaty negotiation for the collective sale of the development."

At S$2.08 billion, the price translates to a land rate of S$1,159 per square foot per plot ratio, after factoring in the 7 per cent bonus balcony gross floor area and the estimated differential premium.

The property at Braddell Hill was previously put up for sale on March 27, but that tender closed in May with no bids. At the time, market watchers cited factors such as the size of the estate and the cooling measures implemented in July last year.

It was relaunched for sale again on Aug 13.

Braddell View, which sits on a 1.14 million sq ft hilltop site overlooking MacRitchie Reservoir Park, comprises two commercial units and 918 residential units. The plot has a lease tenure of about 102 years with effect from Feb 1, 1978.