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After a failed bid in 2016, Golden Wall Centre (pictured) has once again been put up for collective sale with a reserve price of $260 million, or $2,194 psf per plot ratio (psf ppr).
Located at 89 Short Street, the freehold property is close to Rochor MRT station on the Downtown Line (DTL) and is just 400m to Little India MRT interchange, revealed marketing agent Edmund Tie & Company (ET&Co).
The 24,239 sq ft site is zoned commercial under the 2014 Master Plan with a plot ratio of 4.2. Subject to the approval of relevant authorities, the site can be redeveloped up to its existing gross floor area of 118,488 sq ft.
“Golden Wall Centre presents a unique and exceptional opportunity to develop a landmark commercial project. It can either be developed into corporate headquarters with potential naming and signage rights for the building, or for strata sale in a market where freehold strata retail and office properties next to MRT stations are rarely available for sale,” said ET&Co senior director of investment advisory Swee Shou Fern.
“With its strategic city fringe location and proximity to the arts, heritage and cultural districts, the property is also ideal for a hotel development, subject to planning approval.”
The tender for Golden Wall Centre closes on 23 November.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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