SINGAPORE: Frasers Property has been awarded the collective sale tender for the rear block of The Centrepoint for S$391.9 million (US$309 million), in a move the group said on Friday (Feb 27) will strengthen its presence on Orchard Road.
The tender price translates to a land rate of around S$2,577 per sq ft per plot ratio, after including lease top-ups and land betterment charges.
It came in below the S$418 million guide price set when the site – comprising 132 leasehold strata units, including 66 residential units and 66 retail units – was launched for collective sale in early January.
