Pearl bank apartment enbloc was sold at S$728m to CapitaLand. The stunning landmark is to be demolished for redevelopment into sophisticated residential apartments with around 800 units comprising of shared amenities and facilities. Pearl bank apartment enbloc, situated near the Outram park, MRT station was sold at a collective sale and redeveloped into One Pearl Bank. Capital land quoted and said that the asset fitted the owners’price order, which was performed using a deal for the whole sale. With extra premium lease-top-up rated at S$201.4 million, the property converts to an amount of land of S$1,515 per square ft for a disgusting floor area. One Pearl Bank Prices As a result of various property conditions, CapitaLand needs to redevelop the asset and improve it for One Pearl Bank. Following the conclusion of its tender on December 19, 2017, resulted in the sale of the collective sale holding 37 storey buildings. This complex building holds 288 units in total. While 8 of them are commercial units, 280 are apartment units for dwellings. Along with that, the asset holds a 99 old leasehold tenancy resulting from June 1970. The number size of the apartment is 123 sqm to 371 sqm. The apartment owners will receive an quantity of S$1.8 million and S$4.9 million. Pearl Bank Apartment Enbloc Prices Yet the commercial units size range is from 65 sqm to 523 sqm. The commercial owners will stand to receive an amount between S$1.2million and S$46.9 million. The positioning with this complex property is put via a pre-application feasibility study that has been made public by the urban redevelopment authority on Nov 13, 2017. The chairman of the pearl bank apartments of the collective sale, Mr Alex poh quoted and said that the implementation of the feasibility study would have a direct effect to the interested parties of the collective sales as they needed quality time and energy to asses the property. He added to say they are pleased that regardless of dozens of challenges, the Colliers made ends meet in securing a handle a personal agreement. One Pearl Bank Bid Prices This is as a result of the extensive network of the investors in addition to skilled on the true estate field. In the center of red-hot collective sale property, this is very lucky and good to the owners. Even though residents had planned to conserve and preserve the pearl bank apartments due to its amazing design and history, redevelopment was on the way. An analysis performed to the building structure shows that the conservation was expensive to the owners in addition to a large burden. Consequently, conservation would not be workable to residents.