Tan Boon Liat Building in Outram sold to Kingsford Group for $950m
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Tan Boon Liat Building, a freehold industrial property in Outram, has been sold en bloc to a Kingsford Group unit for $950 million.The latest collective sale tender was launched after more than 80 per cent of owners agreed to a reduced reserve price of $1 bilTan Boon Liat Building in Outram sold to Kingsford Group for $950m
Tan Boon Liat Building, a freehold industrial property in Outram, has been sold en bloc to a Kingsford Group unit for $950 million.The latest collective sale tender was launched after more than 80 per cent of owners agreed to a reduced reserve price of $1 billion. The tender closed on May 12.The sale price is 5 per cent below the $1 billion reserve price. The building was first launched for collective sale in February 2025 with a reserve price of $1.15 billion. A fresh tender was later called at the lower reserve price.Cushman & Wakefield, the property's marketing agent, said in a statement on Tuesday (July 21) that the deal likely represents the largest collective sale transaction in Singapore this year.The biggest collective sale on record is Farrer Court, a privatised HUDC estate which sold for $1.339 billion in 2007.Kingsford Havelock, a unit of Kingsford Group, secured the 15-storey warehouse and showroom in a deal that is subject to owners' approval at an upcoming extraordinary general meeting. Read more














