History Springleaf Tower

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1 history

1.1 uob case
1.2 building sale
1.3 cabinet fire





history

springleaf tower completed in 2002. firms involved in development include capitaland commercial limited, capitaland limited, benson global, , dtz debenham tie leung (south east asia) private limited.


however, springleaf tower s construction not smooth. in late 1990s, developer of building, subsidiary of defunct ban hin leong group, ran financial problems. unable pay contractors completion of 37-storey building. led uob case.


uob case

the ban hin leong group suggested 1 of contractors, yongnam holdings, purchase floor, , set off value of work against sale price of floor. agreed united overseas bank (uob), mortgagee.


however, after yongnam completed work, uob refused release mortgage. uob said did not encourage or endorse barter arrangement , later foreclosed on building. yongnam sued uob protect interest. uob subsequently lost case, , asked cede ownership of floor yongnam.


building sale

twelve floors in springleaf tower sold in january 2007 s$134 million, bought macquarie global property advisors. few months later, in october 2007, same twelve floors sold again, @ $225 million. equates increase of 70 percent. bought seb asset management, part of german pension fund manager seb.


cabinet fire

on january 31, 2008, there fire @ han s restaurant , tenants @ springleaf tower asked evacuate offices. singapore civil defence force sent 2 fire engines, 2 fire bikes, 3 support vehicles, 1 ambulance , 1 red rhino scene. in total, 300 occupants of building evacuated. found cabinet in restaurant started fire.








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