Strata Titles Board stops $391.9m sale of rear block of The Centrepoint

SINGAPORE – The $391.9 million collective sale for the leasehold rear block of The Centrepoint was hit with a stop order from the Strata Titles Board (STB) in August, The Straits Times has learnt.

The stop order was issued because there were two objections to the sale, and these were not withdrawn during a mediation held before the board.

It is unclear on what grounds the dissenting owners objected. Common objections include disputes over the apportionment of proceeds or en bloc sale price, or if unit holders believe that the collective sale did not take place in good faith. 

After STB issued the stop order, the collective sale committee (CSC) applied to the High Court to seek approval for the sale of the seven-storey landmark property in Singapore’s prime shopping belt.

But the two objections were withdrawn ahead of a High Court hearing scheduled on Nov 19.

This paves the way for the CSC to proceed with the application for a sale order at the hearing before the High Court, which will determine if the sale can proceed.

A spokesperson for marketing agent Savills told ST on Nov 13 that “the two objections previously lodged in relation to the collective sale of Management Corporation Strata Title (MCST) 1304 of The Centrepoint have been withdrawn.”

But Savills did not specify what the two objections were about, or why and when these were withdrawn, adding that it prefers to address any further questions after the hearing.

Christopher Yong, managing director of Terra Law LLC, said the objections could have been withdrawn because “the dissenting owners reached settlement with the CSC, or don’t have the stomach to fight the matter in court because of financial reasons”.

On Feb 26, 2026, Frasers Property, through its wholly owned subsidiary Frasers Property Cuppage, was awarded the $391.9 million collective sale tender for the leasehold rear block of The Centrepoint.

Based on the agreed apportionment method, retail unit owners each stand to receive proceeds ranging between $840,000 and $9.29 million, while the apartment owners each stand to get between $2.65 million and $7.11 million per unit, subject to final adjustments.

Completed in 1983, The Centrepoint comprises two parts: a freehold front plot and a leasehold rear plot.

The leasehold rear block forms part of The Centrepoint at 176A Orchard Road and comprises 66 retail units and 66 residential apartments. It occupies a prime site in Orchard Road with a direct sheltered link to Somerset MRT station.

The site has a land area of about 44,700 sq ft and is zoned “commercial”, with a gross plot ratio of 5.6 and a maximum height of up to 10 storeys.

Frasers Property said its acquisition of the site further strengthens its position in the Orchard Road area and its ability to maximise the potential of this well-located site, in line with national plans to rejuvenate the Orchard Road precinct.

Before the collective sale of the rear block, Frasers Property already held a majority stake in it, owning more than 52% of the units by strata area.

The developer is also the majority shareholder in the freehold front plot, owning about 96% of the units by strata area.

In addition, Frasers fully owns 51 Cuppage Road, a 10-storey office building directly connected to The Centrepoint.

On Aug 31, Frasers Property announced its acquisition of Cuppage Terrace – a cluster of 17 conservation shophouses located next to The Centrepoint – for an agreed property value of $175 million.

Cuppage Terrace has a total gross floor area of 34,678 sq ft, excluding the outdoor refreshment area.

With the addition of Cuppage Terrace to its portfolio, Frasers wants to take a more coordinated approach to asset enhancement and long-term value creation.

Apart from stop order issued for The Centrepoint, the STB had also stopped the $810 million collective sale for Thomson View Condominium in March 2025.

This stop order was issued after mediation efforts failed to resolve objections filed by a group of six dissenting home owners.

But these objections were subsequently withdrawn. On July 1, 2025, the High Court approved the $810 million sale after considering further submissions by Thomson View’s CSC lawyers and that there were no objections from home owners.

The deal was temporarily on hold in May 2025 after lawyers representing the Thomson View CSC made errors in documents, including submitting “incomplete” documents.