Singapore-listed educational service provider Raffles Education Corp is putting up a commercial building, Raffles Education Square, at 51 Merchant Road, for sale at a guide price of $200 million (Credit: Delasa)
SINGAPORE (EDGEPROP) - Singapore-listed educational service provider Raffles Education Corp is putting up a commercial building, Raffles Education Square, at 51 Merchant Road, for sale at a guide price of $200 million, or $2,582 psf on the existing gross floor area (GFA). (See also: Two freehold commercial buildings on South Bridge Road going for $45 mil)
Zoned for commercial use, the property occupies a land area of 27,669 sq ft and has a GFA of 77,445 sq ft. It is within close proximity to Clarke Quay and Fort Canning MRT Stations.
The property comprises two sections: a main four-storey building with two levels of basement carparks, annexed to two rows of conserved buildings. It was refurbished eight years ago and currently houses Raffles Education’s corporate office and college campus.
The expression of interest exercise, held by property consultancy Delasa (formerly known as Showsuite Consultancy) , is scheduled to close at 2.30 pm on Thursday, Sept 23.
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