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Located at 19 Tanglin Road, Tanglin Shopping Centre sits on a 68,512 sq ft site. Source: Savills
Tanglin Shopping Centre has been launched for collective sale with a guide price of $828 million or $2,642 per plot ratio, revealed exclusive marketing agent Savills Singapore.
Located at 19 Tanglin Road, Tanglin Shopping Centre comprises a 12-storey commercial complex with two basement levels as well as an annex eight-storey carpark.
The 364-unit development occupies a 68,512 sq ft site that is zoned for commercial use under the 2019 Master Plan with an allowable gross plot ratio of 4.2 and a height limit of up to 20 storeys. It has an existing verified gross floor area (GFA) and development baseline of about 313,435 sq ft.
The commercial zoning means that no Additional Buyers’ Stamp Duty (ABSD) is payable for the freehold site.
“Currently the only commercial site available in Orchard, Tanglin Shopping Centre is a compelling opportunity for multiple development options comprising predominantly commercial uses but also including the possibility of hotel and residential,” said Jeremy Lake, Savills’ Managing Director for Investment Sales and Capital Markets.
Enjoying dual road access from Cuscaden Road and Tanglin Road, the development sits right next to residential developments like St Regis Residences, Boulevard 88 residences and the upcoming Edition Hotel.
A 6- and 9-minute walk from Orchard Boulevard and Orchard MRT stations, respectively, the site is accessible from Marina Bay and the Central Business District (CBD).
Nearby amenities include the Orchard Road shopping belt, medical establishments such as Camden Medical Centre and Gleneagles Hospital, private clubs like The American Club and Tanglin Club, as well as green spaces like the Singapore Botanic Gardens.
The site is also close to a cluster of hotels such as St Regis Singapore and the Four Seasons. Upcoming hospitality projects set to open next year within the vicinity include 204-room Edition Hotel Singapore and 142-room Artyzen Cuscaden Singapore.
“Being a freehold commercial site, Tanglin Shopping Centre is truly a unique opportunity for local and international developers. The buyer will have the flexibility and ability to curate an iconic mixed used development in the most prime street in Singapore, and overlooking the lush tree-lined boulevard of Nassim Road, Singapore’s most prestigious residential address,” said Galven Tan, Deputy Managing Director for Investment Sales and Capital Markets at Savills.
The tender for Tanglin Shopping Centre closes on 22 February 2022.
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Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: cheryl@propertyguru.com.sg.
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