The rear plot, a 99-year leasehold, L-shaped portion at 176A Orchard Road, was put on the market with a guide price of $418 million. (Photo: Samuel Isaac Chua/EdgeProp Singapore)
In the year’s first announced collective sale, real estate developer Frasers Property, through its wholly owned subsidiary Frasers Property Cuppage, has been awarded the tender for the leasehold rear plot at The Centrepoint for a consideration of $391.9 million.
This consolidates its ownership of the seven-storey landmark property on Singapore’s iconic Orchard Road shopping belt, the group said in a Feb 27 announcement.
The tender price works out to a land rate of about $2,577 per square foot per plot ratio (psf ppr) after including lease top-ups and any land better charge payable.
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This is assuming full commercial use, a fresh 99-year tenure and intensification to a plot ratio of 5.6. The land betterment charge associated with the lease top-up and intensification is estimated at about $253.13 million, said exclusive marketing agent Savills Singapore.
Based on the agreed apportionment method, retail and residential owners are expected to receive indicative proceeds ranging from S$0.84 million to S$9.29 million and about S$2.65 million to S$7.11 million per unit respectively, subject to final adjustments, Savills noted.
Completed in 1983, The Centrepoint comprises two components: a freehold front plot and a leasehold rear plot.
Prior to the collective sale for the rear plot, Frasers Property already held a majority stake in it, owning over 52% of the units by strata area. Frasers Property is also the majority shareholder in the freehold front plot, owning about 96% of the units by strata area. The freehold front plot has prominent frontage along Orchard Road, comprising 151 retail units.
The leasehold rear plot, an L-shaped site, forms part of The Centrepoint at 176A Orchard Road and comprises 66 retail units and 66 residential apartments under Management Corporation Strata Title (MCST) Plan No. 1304.
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The private apartments occupy levels four to seven and range from one- to three-bedroom units, with sizes between 732 sq ft and 3,003 sq ft. These residential units are held on a 99-year lease commencing from 1979.
The L-shaped portion at 176A Orchard was put on the market with a guide price of $418 million in early January 2026, and the public tender closed on Feb 26.
This strategic acquisition further strengthens Frasers Property’s position in the shopping district and its ability to maximise the potential of the site, in line with national plans to rejuvenate the Orchard Road precinct.
The purchase of the rear plot will give the group greater flexibility to unlock the site’s long-term potential, including assessing broader rejuvenation plans for the area, said Soon Su Lin, CEO, Frasers Property Singapore.
“In the meantime, it remains business as usual at The Centrepoint, where we continue to enhance the mall’s retail offerings and organise year-long marketing activities to attract shoppers to the mall,” she added.
Read also: Frasers Property racks up $1.4 bil in 1QFY2026 pre-sales, led by Singapore and China
Savills Singapore managing director of investment sales and capital markets, Jeremy Lake, said that Orchard Road continues to excite developers.
The latest deal is the firm’s fifth successful collective sale along the Orchard Road belt, bringing Savills’ total transaction value in the precinct to more than $2.69 billion over the past five years. The earlier collective sales were Tanglin Shopping Centre at $868 million, Ming Arcade at $172 million, Delfi Orchard at $439 million, and Concorde Hotel at $821 million.
“In due course, the future redevelopment of these properties will help to transform Orchard Road from a traditional shopping belt into a must-visit vibrant and multi-functional lifestyle destination,” Lake said.
Check out the latest listings for The Centrepoint properties