Bugis Cube back on the market
Singapore shopping mall Bugis Cube is back on the market as its strata-title owners make a second attempt to achieve a collective sale.
The six-story building was first put up for sale in May, but agents report not a single bid was lodged before the deadline.
A second sale attempt has now been launched with tenders to close on November 14.
Cushman & Wakefield, which is handling the sale, says the reserve price of S$230 million remains the same. That equates to about $3452 per square foot per plot ratio on the gross floor area.
Bugis Cube is located on North Bridge Road, opposite Bugis Junction in the Bras Basah area. It comprises 119 strata-titled retail spaces, including food & beverage outlets and karaoke bars.
Annalyn Ooi, associate director of capital markets at C&W, told The Edge Property that the sale would be with vacant possession.
“The prospective buyer could take the opportunity to add value to the building through asset-enhancement initiatives by introducing co-working space concepts, specialty services and clinics, or convert it into a boutique office building with its own naming rights,” she said.