Sim Lim Square is currently seeking buyers who are interested in the landsale, and is prepared to sell the iconic building at S$1.1 billion or the highest bidder.
The building is famed for the sale of electronics and computing gadgets, a go-to place for anyone looking to buy or get a build-to-order computer.
Sim Lim Square was completed in 1987. It is a 6-storey retail mall consist of 492 individual units, with a floor span of approximately 391,002 sq ft.
Their en bloc sale came after the announcement of the collective sale on People’s Park Complex, People’s Park Centre, Golden Mile Complex and Golden Mile Tower, which became a huge competition.
The building was also running on a 99-year leasehold as the other en bloc malls, and looking to sell it before its value depreciates further.
After several successful meetings, 60 percent of the unit owners by share value agreed to the apportionment and collective sale agreement.
SLP Scotia, which is owned by SLP International Property Consultants, has been appointed marketing agent.