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The property may be purchased by both local and foreign buyers, with no seller’s stamp duty or additional buyer’s stamp duty payable.
A nine-storey commercial building at 333 North Bridge Road has been put up for sale with an indicative price of $80 million, revealed marketing agent Edmund Tie & Company.
Situated on a corner plot with dual frontage along Cashin Street and North Bridge Road, the 999-year leasehold building sits on a 435.2 sq m (about 4,684 sq ft) site which is zoned commercial under the 2014 Master Plan with a plot ratio of 5.2 as well as a building height of up to 16 storeys. It has a total gross floor area (GFA) of 2,698.7 sq m or around 29,049 sq ft.
Edmund Tie & Company noted that a further GFA of about 299 sq m or around 3,218 sq ft may be built without incurring any development charge.
In fact, the property may be purchased by both local and foreign buyers, with no seller’s stamp duty or additional buyer’s stamp duty payable.
Served by four MRT stations which are within a 500-metre radius, the property is just an MRT stop away to the Orchard Road shopping belt and the Raffles Place financial district.
It is also near major expressways such as East Coast Parkway, Nicoll Highway, Kallang-Paya Lebar Expressway and Pan Island Expressway. The building is also close to various key landmarks developments including Raffles City, The South Beach, CHIJMES, Funan, DUO, Suntec City, The Capitol and Marina Square.
Upcoming developments within the area include the new Shaw Tower, Guoco Midtown and two condominium developments at Tan Quee Lan Street and Middle Road by GuocoLand and Wing Tai respectively.
“We expect keen interest from companies seeking to own a corporate office with a strong presence in the city centre as well as investors looking to invest in a prime commercial asset with outstanding location attributes,” said Swee Shou Fern, executive director of investment advisory at Edmund Tie & Company.
“The astute developer may also consider redeveloping the property to maximise the gross floor area and explore a strata sale of the new development. Given its central location, the property is also ideal as a private members’ club or an embassy, subject to authorities’ approval.”
The tender for 333 North Bridge Road closes on 5 November.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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