The owners of a mixed-use building at 27 Foch Road in Kallang have launched a collective sale attempt for $160 million, or $1,866 psf per plot ratio, announced marketing agent Huttons Asia on Monday.

Known as Hoa Nam Building, it is a freehold development on a 21,365 sq ft plot off Lavender Street in District 8. The building has a strata area of 56,123 sq ft, and comprises 36 residential units, 14 office units, and 33 shops.

Hoa Nam Building is a six-minute walk to Bendemeer MRT Station on the Downtown Line, and is also close to Lavender station on the East-West Line, and Farrer Park station on the North-East Line.

The site, with a maximum gross floor area of 85,744 sq ft, could be redeveloped into a new mixed-use or full commercial building. Given its location close to MRT stations and just outside the city fringe, “the site is ideal for co-sharing residential or co-sharing offices with commercial shops and eating outlets on the lower floors”, says Huttons.

The site has obtained in-principle approval from URA for a change of use to full commercial. If a buyer proceeds with the change, additional buyer’s stamp duty would not be applicable.

The tender will close on Aug 20.