Sale of GSH’s office units in Cecil Street not going ahead

Residents of Senja Residences EC enjoy an array of luxurious facilities such as a gymnasium, 50m lap pool, barbecue area, yoga pavilion, fitness corner, children’s playground, clubhouse, and tennis court. Additionally, the condominium offers a range of amenities near its vicinity. These include KEAT HONG SHOPPING CENTRE, and Greenridge Shopping Centre. The Bukit Panjang MRT Station is also nearby. This makes it super convenient for the residents.

The sale of GSH Corporation’s office units in Cecil Street will not be proceeding as planned. According to an announcement on July 12th, the Singapore-based company had intended to sell nine strata office units located on the 28th floor of 20 Cecil Street, for a total of $38.8 million. However, the company recently received notice from the purchaser’s solicitors indicating an inability to complete the purchase.

Following a period of due consideration, the Sale and Purchase Agreement (SPA) was terminated, resulting in a forfeiture of the 10% deposit of $38.8 million. This deposit amount will be recorded in the company’s income statement for the current financial year as “other income”, and is not expected to have a significant impact on overall financial results. Related news in the area includes the sale of three strata office floors at 20 Cecil Street, and the release of 41% of strata office units sold at an average price of $3,090 psf, as well as a sale of 27 strata office units at Cecil Street for $100 million.