Springleaf Tower
From Wikipedia, the free encyclopedia
| Springleaf Tower | |
Springleaf Tower, with MAS Building on the left |
|
| Information | |
|---|---|
| Location | Shenton Way, Downtown Core, Singapore |
| Status | Occupied |
| Use | Commercial, Residential |
| Height | |
| Roof | 165m, 541ft |
| Technical details | |
| Floor count | 37 |
| Owner | Macquarie Global Property Fund II |
Springleaf Tower (simplified Chinese: 春叶大厦) is a high-rise skyscraper located in the central business district of Singapore. It is located on 3 Anson Road and near Prince Edward Road[1], in the zone of Shenton Way and Tanjong Pagar. The development is near other skyscrapers, such as 8 Shenton Way, MAS Building[2], International Plaza, and Anson Centre, all of which are roughly 100 metres away[3]. An office and residential building, it has a total floor count of 37, with a height of 165.0 metres.[4] It is a Grade A office building[5].
Contents |
[edit] History
Springleaf Tower was completed in 2002. Firms involved in the development include CapitaLand Commercial Limited, CapitaLand Limited, Benson Global, and DTZ Debenham Tie Leung (South East Asia) Private Limited.[6]
However, the Springleaf Tower's construction was not smooth. In the late 1990s, the developer of the building, a subsidiary of the now defunct Ban Hin Leong Group, ran into financial problems. It was unable to pay its contractors for the completion of the 37-storey building. This led to the UOB Case.[7]
[edit] UOB Case
The Ban Hin Leong Group suggested that one of the contractors, Yongnam Holdings, purchase a floor, and that it set off the value of its work against the sale price of the floor. It was agreed to by United Overseas Bank (UOB), who was the mortgagee.[7]
However, after Yongnam completed the work, UOB refused to release its mortgage. UOB said that it did not encourage or endorse the barter arrangement and later foreclosed on the building. Yongnam then sued UOB to protect its interest. UOB subsquently lost the case, and was asked to cede ownership of the floor to Yongnam.[7]
[edit] Selling of building
Twelve floors in Springleaf Tower were sold in January 2007 for S$134 million, bought by Macquarie Global Property Advisors. Just a few months later, in October 2007, the same twelve floors were sold again, at $225 million. This equates an increase of almost 70 percent. It was bought by SEB Asset Management, part of German pension fund manager SEB.[8]
[edit] Cabinet fire
On January 31 2008, there was a fire at Han's restaurant and the tenants at Springleaf Tower were all asked to evacuate their offices. The Singapore Civil Defence Force sent two fire engines, two fire bikes, three support vehicles, one ambulance and one red Rhino to the scene. In total, about 300 occupants of the building were evacuated. It was soon found that a cabinet in the restaurant started the fire.[9]
[edit] See also
[edit] References
- ^ Goodwins is at SpringLeaf Tower. Goodwins Law Corporation. Retrieved on 2008-02-12.
- ^ Asia Travel : Map of Springleaf Tower (S) 079909. StreetDirectory.com. Retrieved on 2008-02-12.
- ^ Springleaf Tower is a place in Singapore on the Map of Singapore. SGPageNation. Retrieved on 2008-02-12.
- ^ Springleaf Tower - SkyscraperPage.com. SkyscraperPage.com. Retrieved on 2008-02-12.
- ^ Investments - Springleaf Tower. Macquarie Global Property. Retrieved on 2008-02-12.
- ^ Springleaf Tower, Singapore. Emporis. Retrieved on 2008-02-12.
- ^ a b c UOB loses appeal in Springleaf Tower case. WordPress. Retrieved on 2008-02-12.
- ^ MGPA sells 12 floors of offices for quick profit. Marshall Cavendish. Retrieved on 2008-02-12.
- ^ Cafe cabinet fire sends hundreds evacuating. STOMP. Retrieved on 2008-02-12.
[edit] External links
|
|||||||||||
