ICB Shopping Centre up for tender

The freehold ICB Shopping Centre has been put up for tender with a reserve price of S$60 million (US$45.8 million).

In Yio Chu Kang Road, the site is for both commercial and residential use.

CBRE Singapore has launched the tender of the shopping centre with a value of $1401 a square foot. It says the freehold mixed-use site has a 30m road frontage and is about 700m from Serangoon MRT Station.

Covering about 15,547sqft (1440sqm), the site has a development charge of about $5.37 million payable to intensify the land use.
CBRE says all owners have consented to the reserve price so the sale is not subject to Strata Titles Board approval.

Tenders close on February 28.

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