Parc Central Residences indicative price

Tuan Sing Holdings will probably be selling its own 39 Robinson Road office land for about $500 million. Robinson Point, since this property is known as, was last appreciated by Colliers International Consultancy & Valuation (Singapore) at $374.4 million.

The tender for Parc Central Residences indicative price received a total of 7 bids with the winning developers submitting the highest bid of S$434.4m translating to S$578 psf of GFA.

Tuan Sing can anticipate to reserve a profit of $128.3 million on completion of the sale.

The 21-storey freehold property (found within a 2010 picture) has a gross floor space of 15,700 sqm and contains a few parking and retail area too. Substantial refurbishment works were finished in 2015.

Tuan Sing purchased the land back in 2013 for $348.9 million.

The identity of the purchaser is not revealed by Tuan Sing, but it is a British Virgin Islands-incorporated investment holding firm and bears no connection to Tuan Sing.

“The planned divestment of Robinson Point is in accordance with our approach of passive funds recycling and highlights the continuing strong need for quality commercial areas in Singapore amid the continuing Covid-19 pandemic,” explained William Liem, Tuan Sing’s CEO.

This will permit the Group to keep on pushing ahead in its transformation journey to some regional property agent,” he further added.

Upon completion of the trade, Tuan Sing’s net tangible asset per share would have risen to 103.7 cents. At Dec 31 2019, its NTA has been 92.9 cents per share.

Parc Central Residences showflat location

It’s the very first green loan for your own group. The profits will be used to partly fund the redevelopment of this resort to some biophilic and zero-waste 347-room resort. Biophilic describes a design theory that strives to incorporate nature with the constructed environment.

Parc Central Residences showflat location is also well linked to the city and other parts of Singapore through its established roads and expressways such as Pan Island Expressway and Tampines Expressway. The Tampines MRT station is also within the vicinity.

UOL claims the 23-storey resort will set a new standard for green hospitality, using its self-sustaining sky terraces with rainwater harvesting systems and solar cells to light the gardens. Other sustainable features include a food waste control system which transforms kitchen waste into nutrient water to heaters which remove the need for plastic bottled water.

In January the resort was given the Building and Construction Authority’s Green Mark Platinum. The award would be Singapore’s greatest environmental accreditation, recognising jobs whose layout and functionality adhere to best practices in ecological sustainability.

UOL Group chief executive Liam Wee Sin stated:”The blue-green loan shows our dedication at greening our urban habitat. Pan Pacific Orchard will give rise to our Government’s vision to change Orchard Road to a green oasis in town”.

Mr Leong Yung Chee, UOB’s head of business banking Singapore, stated:”While the tourism business is now considering the effects of Covid-19, UOL’s move to redevelop the Pan Pacific Orchard will place Singapore nicely for a future in which sustainable tourism has been given more attention.”