Peace Centre, Peace Mansion up for en bloc sale again with $650m reserve price

Peace Centre and Peace Mansion are back on the market for the sixth time. The owners are expecting no less than S$650 million for the shopping mall and residential complex. The collective sale comes a week after International Plaza’s multi-billion dollar en bloc attempt. The site occupies more than 76,000 sq ft and is zoned for commercial use. That means whoever buys the 44-year-old property will not have to pay Additional Buyer’s Stamp Duty. They can redevelop it up to the existing gross floor area of more than 600,000 sq ft, with 60% for commercial use and the rest as residential. That’s a yield of about 240 residential units with an average size of 1,000 sq ft.

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