The Straits Times, 23 Mar 2022, Wed 7:27 pm

By Grace Leong

Freehold commercial building Verdun House in Farrer Park has been relaunched for collective sale via tender at $55 million – its third try in four years.

The reserve price works out to $1,790 per sq ft per plot ratio on a potential commercial gross floor area of 30,727 sq ft. No development charge is payable.

Owners of 15 out of the 16 strata-titled units at Verdun House agreed to the sale, representing a mandate of 93 per cent. Property investment sales specialist Delasa, which is marketing the property, could not provide an estimate on how much the owners of each of the 16 units will receive.

A growing number of properties are trying their luck at collective sales following the sale of landmark Tanglin Shopping Centre in the Orchard Road area for $868 million in February after three failed attempts over a period of 15 years.

Despite the Dec 16 round of property curbs, demand for commercial properties remains strong as they are not affected by the additional buyer’s stamp duty (ABSD) regime.

Read more at: https://www.straitstimes.com/business/property/verdun-house-in-farrer-park-relaunched-for-sale-en-bloc-at-55m-in-third-attempt