Owners of two prime properties, Pacific Mansions and Rivershire, are apparently not throwing in the towel despite reports that no developers have responded to their asking prices in collective sales.
Rivershire (Left)Separate talks are still ongoing, according to the agents who are marketing the properties.
Some observers said there may be developer interest if the asking prices were lowered by between 10 and 20 percent.
Savills Singapore, which is marketing Pacific Mansions, would not comment on the price but said it may take a while before a deal can be reached.
Pacific Mansion (Left)Owners of Pacific Mansions had asked for S$2,400 per square foot per plot ratio for their units – higher than the S$2,338 per square foot of potential gross floor area achieved by The Ardmore at Ardmore Park recently.
The asking price for Pacific Mansions would mean a developer would have to fork out S$1.18 billion for the development.
Developers have also apparently not accepted the asking price of S$2,200 per square foot of potential gross floor area for the Rivershire near Leonie Hill.
This would have resulted in a price tag of S$348 million for the Rivershire.
Knight Frank, which is marketing the property, said negotiations are still in progress and nothing has been confirmed. - CNA/so
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