The collective sale of City Towers for $401.9 million has finally been finished, following a sale order in the High Court has been obtained in May, disclosed marketing representative Colliers International.
The freehold growth was set on the marketplace on 4 January 2018, although the statement on the purchase had been made a month later on 7 February.
That is their fourth effort and the achievement is a happy result,” said Colliers International managing director Tang Wei Leng.
City Towers collective sale committee chairman M. Singh was likewise delighted with the conclusion of this sale.
“We’re thrilled that Colliers has over delivered to the mandate from owners, attaining a superior above the reserve price. Additionally, we’d like to thank all parties involved in this deal particularly our lawyers for their professionalism and also the owners for their patience and support,” he said.
Situated in prime District 10 close to the Stevens and Newton MRT stations, the 17-storey development sits on a 104,531 sq ft website, using a projected gross floor area of about 219,516 sq ft.
City Towers includes 77 units of maisonettes and flats in addition to a penthouse and store unit.