Owners of Peace Centre/Peace Mansion (PCPM), at Sophia Road, have put up the property for collective sale for the fifth time, at a reserve price of $688 million, or $1,474 psf per plot ratio.
PCPM occupies a 76,617 sq ft site, which is zoned for commercial use. It has a gross plot ratio (GPR) of 7.89 and can be redeveloped up to a height of 55 metres above sea level, according to JLL, marketing agent for the property.
PCPM comprises 99 commercial units, 133 offices, 86 apartments, and a carpark with 162 lots. The front podium block is 10 storeys high, while the rear is a 32-storey tower.
The potential developer could redevelop the site up to an existing gross floor area (GFA) of 604,578 sq ft at an equivalent GPR of 7.89 for a mixed commercial and residential project, notes JLL.
PCPM is within 10 minutes’ walk to five MRT stations -- Bencoolen, Rochor, Dhoby Ghaut, Bras Basah and Little India -- while Bugis MRT Station is a 12-minute walk away.
Education institutions nearby include Singapore Management University, Singapore School of the Arts, LaSalle College of the Arts, Nanyang Academy of Fine Arts and the Kaplan city campus.
A pre-application feasibility study is not required for the site.