Sim Lim Square owners eye second collective sale attempt

[tripleme]

he owners of IT and electronics mall Sim Lim Square are looking to give the en bloc sale another go. A collective sale committee (CSC) formed at the end of June is now seeking a marketing consultant to help them through the process.

This will be the owners’ second attempt at a collective sale. The first attempt was in 2019 and had an initial proposed price of $1.1 billion, which failed to garner the 80% consent required from owners to proceed, prompting the CSC then to raise the price to $1.25 billion. The tender closed in July 2019 without attracting any bids. In December that same year, Sim Lim Square was relaunched for sale with the same reserve price but did not manage to find a buyer.

https://www.edgeprop.sg/property-news/sim-lim-square-owners-eye-second-collective-sale-attempt