Archive for category: Misc

There is a mixed-use development called Singapore Shopping Centre which has been put up for collective sale at an asking price of $200 million. Located at 190 Clemenceau Avenue, the seven-storey building is situated opposite the Dhoby Ghaut MRT Interchange and is close to Orchard Road.

The current asking price is lower than the development’s previous collective sale attempt in February 2020, where it was put on the market at a reserve price of $255 million with provisional approval for the site to be rezoned as a hotel.

Singapore Shopping Centre sits on a corner land plot of 26,369 sq ft that is zoned for commercial use with a 4.2 plot ratio. It currently has a gross floor area (GFA) of about 135,264 sq ft, comprising of retail and office components.

ETC, the firm handling the collective sale, has submitted an enquiry to the authorities for a lease top-up to a new 99 years. They also mention that in the previous collective sale attempt in 2020, the authorities had shown support for a lease renewal.

Following a recent planning application, the Urban Redevelopment Authority (URA) has indicated support for either redeveloping the site for a hotel with the same plot ratio or adapting the existing building for hotel use with an equivalent plot ratio of 5.13.

Based on the asking price of $200 million, the land rate would range from $2,800 to $3,500 per square foot (psf) per plot ratio, depending on the proposed land use and development intensity, according to ETC.

Swee Shou Fern, the head of investment advisory at ETC, believes that the site’s location and connectivity, along with its proximity to Orchard Road and cultural institutions, make it an attractive site for both commercial and hospitality concepts. She also sees strong potential for the site to become a new anchor for this end of Orchard Road, with the area undergoing a wave of transformation.

The tender for Singapore Shopping Centre will close on October 28.

Miltonia Close EC, located in the serene northern region of Singapore, is poised to become a highly sought-after residential development. Tucked away amidst the tranquil Seletar Reservoir and within the established Yishun town, this executive condominium (EC) offers a unique combination of peaceful surroundings, convenient location, and affordable pricing for families looking to experience the luxuries of private condominium living. Set to elevate its appeal further, the upcoming Miltonia Close EC Khatib boasts modern amenities and conveniences, solidifying its position as a prime residential choice.