Shenton House launches $590 mil collective sale tender

According to a news release from JLL, the sole advertising broker, the real estate’s unit land price is based on the locations’ industrial zoning with a 40% residential gross floor surface area (GFA), and this mirrors about $2,035 psf per plot ratio (ppr) at a gross plot ratio of 14.0.

“We’re certain in Singapore’s capacity to set up high quality CBD assets amidst climbing need from both the clients and owner-occupiers that are checking into obtaining a stake in the medium- to extensive prospects of the land,” states Tan.

” The place is perfectly placed in the top District 1, a reputable location for Grade-A workplaces that attract big corporations,” states Tan Hong Boon, managing supervisor of capital markets at JLL. “Constructors can capitalise on the increasing interest for residences in mixed-use developments and provide luxury apartments with ground-floor retail store along with F&B to complement the office visibility.”

The Arden condominium

Neighbouring commercial buildings involve Asia Square Towers 1 & 2, UIC Building, OUE Downtown, including SGX Centre. The upcoming IOI Central Boulevard Towers, Marina One mixed-use property development, Capital Tower, and incorporated development Guoco Tower are also in the vicinity.

This unit land cost consists of the estimated $446 million costs of the land betterment charge and a rent top-up fee to a fresh 99-year land tenure. Furthermore, in case an additional 7% incentive porch GFA for the non commercial aspect is included, the unit land rate will certainly be around $2,012 psf ppr.

MRT terminals near the location are Shenton Way on the Thomson-East Coast Line, Marina Bay Interchange on the North-South as well as Circle Lines, Downtown on the Downtown Line, plus Tanjong Pagar on the East-West Lane.

Shenton House, a commercial building on Shenton Way in the CBD, has recently released a collective sale tender with a reservation cost of $590 million.

Shenton House is on a 36,350 sq ft, rectangular-shaped spot that boasts triple road front views on Shenton Way, Park Street, and even Shenton Land. The 99-year leasehold property at the moment contains 203 profit-making units including a carpark.

Within the CBD Incentive Scheme revealed in 2019, the place is qualified to a 25% bonus GFA moreover may be redeveloped right into a mixed-use or accommodation development, at a gross plot ratio of 14.0.

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