En bloc sales are notoriously difficult to pull off.

The relatively high percentage of approval from tenants needed for deals to go through means they might not even get started.

The latest to dip their hat in the en bloc draw is Queensway Shopping Centre.

According to a CNA report, the mixed development site, with a land area of about 100,000 sq ft, might fetch above S$500 million.

Suzie Mok, the senior director of investment at marketing agent Savills Singapore, will be handling the sale.

She told CNA that this will be the first time Queensway Shopping Centre is being put up for sale.

While the majority of Singaporeans might be saddened by the sale, if it's what the shop owners want, then that's a pretty straightforward solution, no?

A tower and a mall

The thing is, while most media reports have focused on Queensway Shopping Centre being put up for sale, there's actually another really important component.

The housing apartment behind it.

Specifically this one.

The CNA report mentioned most of the tower's residents welcome the en bloc move, citing their displeasure with leaky ceilings, and inadequate infrastructure.

The shop owners, on the other hand, are much more divided on the potential en bloc.

Business is doing well

There appears to be a divide between how well the shops in Queensway Shopping Centre are doing.

While some admit that foot traffic has gone down by a bit, others maintain that business is doing well, and reports of the slowdown have been greatly exaggerated.

This belief is perhaps what sparked a recent movement to kill off the en bloc sale.

Here is a circular that was recently sent to shop owners on the first few floors.

It basically offered an alternative investment for those that do intend to sell their units, with the condition that they reject the en bloc movement.

A second circular reinforcing the point soon followed.

Speaking to Mothership, Narwant Singh, one of the point of contacts mentioned in the circulars, explained why they are trying to prevent the en bloc.

Narwant, who owns five units in the mall, maintained that the shops, especially those in the first floor, were doing really well.

He also took issue with the en bloc prices that were being raised.

"Queensway Shopping Centre is doing very well and the prices are dirt cheap. All shops on level 1 are doing very well and the en bloc prices are dirt cheap."

He also claims to have more than 20 percent share value firmly against the en bloc sale.

Despite Narwant's confidence, the situation might not be that cut and dry.

Mok told CNA that the sentiment on the ground was "encouraging", supposedly in favour of an en bloc.

Here's how the numbers will work out, if it does come down to mere percentage points.

The building consists of 241 retail units, and 78 apartments.

According to the same CNA article, roughly 50 shops (20 percent share value), have placed their signature opposing the en bloc.

However, it is not a homogenous "us against them" dynamic between shops and residential units.

Some shop owners told CNA that they might welcome the sale, with some mentioned diminished shop sales and wanting to retire as reasons for agreeing to the sale.

The committee will have until April 20, 2020, to gather the signatures needed to push through the sale.

Image from Charis Chan