Beach Road site up for collective sale with $90m reserve price
Beach Road site for sale:
SINGAPORE (THE BUSINESS TIMES) – A small Beach Road site up for sale at a save cost of $90 million.
The plot of 698.9 sq m (7,523 sq ft) is at the intersection of Beach Road and Liang Seah Street and has a 999-year leasehold residency successful from Jan 25, 1827.
The six-story, blended-use improvement comprises retail, office, and residential units. And is near Bugis MRT interchange station and the upcoming Guoco Midtown, which is under development.
It has a gross floor area (GFA) of 3,515.89 sq m (equivalent to a gross plot ratio of 5.03), Cushman and Wakefield said yesterday.
The Urban Redevelopment Authority has given two allowable turns of events.
For official Treasure at Tampines Showflat appointment, project details, floor plans to be obtained
The main choice is “commercial” zoning at a gross plot ratio of 4.2 and an equivalent GFA of 2,935.38 sq m.
The second is to work with a “residential/commercial” zoning at the present gross plot ratio of 5.03.
The save cost indicates the land rate of $2,848 per square foot per plot ratio (psf ppr). With no advancement charge due for the full commercial choice. And a land rate of $2,394 psf ppr for the subsequent choice. Subject to a fruitful rezoning, Cushman and Wakefield said.
The allowable structure tallness for the two choices is up to six stories.
Ms Christina Sim, chief of capital markets at Cushman and Wakefield, said: “Financial specialist demand for such reduced down assets in this region has been on the rise.
“As this locality matures into an undeniable work-live-play center, asset costs are required to rise.”
The delicate for 101 Beach Road site for sale shut down at 3 pm on July 22.
Click To Get The Avenir details and pricing.