Maxwell House’s EUR 171 Million Sale

Kennedys Legal Solutions, via its joint law venture partner Legal Solutions LLC, acted on the sale of Maxwell House. Dentons Rodyk acted for the “Joint Tenderers” in the transaction.

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. (collectively the “Joint Tenderers”).

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 SGD 268 million.

The specialist property team at Legal Solutions LLC providing ongoing advice on the sale is comprised of Directors and Partners Patrick Ee (Picture) and Christopher Yong, along with Amanda Tai, Senior Associate. The sale of Maxwell House remains subject to the Strata Title Board’s approval.

Dentons Rodyk’s team was led by Senior Partner Liat Yeang Lee, supported by Partner Shang Chai Chua and Senior Associate Yi Rong Ang.

Involved fees earner: Yi Rong Ang – Dentons; Shang Chai Chua – Dentons; Liat Yeang Lee – Dentons; Patrick Ee – Kennedys; Amanda Tai – Kennedys; Christopher Yong – Kennedys;

Law Firms: Dentons; Kennedys;

Clients: CEL Development; Chuan Investments; Maxwell House; SingHaiyi Investments;

Author: Sonia Carcano