Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting to read:%0A%0A {0} %0A%0A {1}

Maxwell House Sold for $276.8 million

Jayna Poh • 07/05/2021

Maxwell House Sold for $276.8 million

Maxwell House has been sold enbloc for $276.8 million. Brokered by Cushman & Wakefield, this is the first full commercial collective sale site and largest by value sold to-date this year. The buyer is a joint venture between CEL Development Pte Ltd, Singhaiyi Investments Pte Ltd and Chuan Investments Pte Ltd.

Located at No.20 Maxwell Road, Maxwell House is a 13-storey building comprising retail and showroom space on the ground and 2nd floors and office space from level 3 to level 13. It has a total site area of 3,883.3  sqm  with  a  potential  GFA  of  21,746  sqm. Comprising  some 145  strata  units including the carpark, Maxwell House was launched for a second tender on 8 April 2021 at a lower reserve price of $268 million. 

Ms. Christina Sim, Director of Capital Markets at Cushman & Wakefield said, “Interest in the site was robust as this was an opportunity to develop a mixed residential cum commercial building in the vibrant fringe of Chinatown and Tanjong Pagar. The additional uplift in the plot ratio from 4.3 to 5.6 in an Outline Advice given by the URA on 30 September 2020 has enhanced the attractiveness of the site as the URA embarks on a rejuvenation plan for certain precincts in the CBD to encourage a more ‘live-in’ community. Situated near the CBD and a charming enclave  of conservation shophouses offering  a  plethora of entertainment, retail and F&B outlets, Maxwell House is poised to be one of the best ‘work-live-play’ developments in the central region.”

Kennedys Legal Solutions is the legal advisor for the sale, which is subject to the Strata Title Board’s approval. The specialist property team at  Kennedys Legal Solutions providing ongoing advice on the sale is comprised of Partners Mr. Patrick Ee and Mr. Christopher Yong, and Ms. Amanda Tai, Senior Associate. 

Related Insights

Singapore Market Outllokk H2 2024_thumbnail asset.jpg
Research • Workplace

Singapore Market Outlook H2 2024

Singapore's economy to grow 2.3% in 2024, higher than 2023's growth of 1.1%

Cushman & Wakefield Comments for URA Flash Estimates 2Q2024

Based on URA flash estimates, Singapore private home prices continue to rise, up by 1.1% qoq in Q1 2024, despite slowing volumes. 
Xian Yang Wong • 01/07/2024
APAC Inclusive Cities Barometer
Insights • Sustainability / ESG

Inclusive Cities Barometer

Singapore stands out as a top performer in the Inclusive Cities Barometer, renowned for its exceptional urban planning, safety, and cultural diversity.
Dominic Brown • 10/06/2024
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All