Bookmark & Share
Built in the 1970s, the 99-year leasehold development is nestled on a 4,874.7 sq m (52,471.27 sq ft) site between North Bridge Road and Beach Road.
Sultan Plaza, a 244-unit development at 100 Jalan Sultan, is relaunching its en bloc sale tender on 11 July, following its receipt of Urban Redevelopment Authority (URA) approval for hotel use, reported Singapore Business Review.
The Land Transport Authority also said that a Pre-Application Feasibility Study is no longer needed for the redevelopment of the site.
Ronnie Chin Architects said around $57.525 million in differential premium is required to intensify the land use as a hotel; $12 million for mixed use, commercial and residential development; and over $16.09 million for commercial use.
Built in the 1970s, the 99-year leasehold development is nestled on a 4,874.7 sq m (52,471.27 sq ft) site between North Bridge Road and Beach Road.
The site is also near the iconic Golden Mile Complex, the Kampong Glam conservation enclave, Duo Residences, South Beach and office towers. It also enjoys access to three MRT stations across three lines within 750m – the CC5 Nicoll Highway, DT14 Bugis and EW11 Lavender.
The tender for Sultan Plaza closes on 1 August.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
Related Articles:
URA launches tender for Beach Road commercial site
URA seeks feedback on rule changes to sale of commercial properties