Maxwell House sold en bloc to Chip Eng Seng, SingHaiyi for $276.8m, above asking price

Maxwell House, which has a site area of 41,799 square feet, has been sold to a unit of Singapore-listed Chip Eng Seng Corp, SingHaiyi Investments and Chuan Investments at $276.8 million.

This was the 2nd attempt at collective sale bid by Maxwell House, which had lowered the reserve price from $295 million in the 1st en bloc bid to $268 million.

If the sale is approved by the Strata Titles Board, the developer will seek approval from the Urban Redevelopment Authority (URA) to redevelop the site into a commercial and residential mixed-use development.

 

 

Source: https://www.straitstimes.com/business/property/maxwell-house-sold-en-bloc-to-chip-eng-seng-singhaiyi-for-2768-million-above

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