People's Park Centre owners to vote on collective sale bid

People's Park Centre has 120 apartments, 256 offices, 324 shops and a carpark. Mr Philip Ng, director of Savills Singapore, its marketing agent, says it was built as a mixed-use development, but the land is zoned commercial. So the developer can buil
People's Park Centre has 120 apartments, 256 offices, 324 shops and a carpark. Mr Philip Ng, director of Savills Singapore, its marketing agent, says it was built as a mixed-use development, but the land is zoned commercial. So the developer can build a fully commercial building.ST PHOTO: WONG KWAI CHOW

They will decide whether to accept $1.3b reserve price at meeting on Oct 23

People's Park Centre owners will be voting on whether to accept a reserve price of $1.3 billion, which analysts say is the highest so far for a mixed-use collective sale in this cycle.

At an extraordinary general meeting (EOGM) on Oct 23, they will decide whether to accept the reserve price and method of apportionment for their first collective sale attempt. The development, which has 120 apartments, 256 offices, 324 shops and a carpark, has 51 years left on its lease.

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A version of this article appeared in the print edition of The Straits Times on October 06, 2018, with the headline 'People's Park Centre owners to vote on collective sale bid'. Print Edition | Subscribe