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Freehold commercial property Golden Wall Centre will be launched for collective sale on Thursday (3 March).
Located at the junction of Short Street and Rochor Canal, the 24,240 sq ft site is zoned for commercial use and has a gross plot ratio of 4.2 based on the 2015 Master Plan. The existing building’s plot ratio is 4.88.
According to the property’s appointed marketing agent SLP Realty, the bids for the site could be in the range of S$250 million to S$270 million or S$2,113 to S$2,283 per sq ft based on the building’s existing gross floor area.
The property agency said it is confident that the site will receive keen interest from the market because of the rarity of good freehold land available.
Kevin Lim, SLP Realty division director, said this as-built higher plot ratio quantum may be retained upon redevelopment” based on the existing Urban Redevelopment Authority policy, especially when the proposed use remains unchanged.
Nikki De Guzman, Editor at CommercialGuru, edited this story. To contact her about this or other stories email nikki@propertyguru.com.sg
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