Daily Briefing: 333 North Bridge Road for sale at $80m; Braddell View en bloc closes with no bidders

And Estonian company Funderbeam obtains two financial services licenses from Singapore.

From iCompareLoan:

A commercial building located at the city centre just across the Raffles Hotel is launched for sale at $80m.

333 North Bridge Road is a 9-storey commercial building with a 999-year leasehold tenure. It occupies a site area of 435.2 sqm (4,684 sqft) with a total gross floor area of 2,698.7 sqm (29,049 sqft). There is a further gross floor area of approximately 299 sqm (3,218 sqft) that may be built, with no development charge payable.

The tender exercise for 333 North Bridge Road will close on 3PM, 5 November.

Read more here.

From iCompareLoan:

The Braddell View estate en bloc closes with no bidders and the collective sale committee has instructed its marketing agent to enter into private treaty negotiation.

The Braddell View estate en bloc sale effort pitched itself as a beneficiary from enhancements in the Bishan-Toa Payoh region under the Draft Master Plan 2019.

Braddell View is a prominent hilltop site near three MRT stations and nature reserve, and is Singapore’s largest private residential site. The property in Braddell Hill in Central Singapore was originally put up for sale on 27 March at the owners’ reserve price of $2.08b. When the property was relaunched for sale in August, the price remained unchanged.

Read more here.

From DealStreetAsia:

Venture-funded Estonian company Funderbeam said on Wednesday it had obtained two financial services licenses from Singapore authorities, which will enable it to offer a global secondary market for trading in private companies.

Funderbeam said its new Recognised Market Operator license would enable it to offer an automated trading and secondary listing service to any private company in Europe and Asia, solving the longstanding liquidity problems of early stage investment.

Founded in 2013, Funderbeam has raised $21.8m ($15.8m) from investors, which include Tim Draper, Mistletoe and Thomson Reuters amongst others.

Read more here.