EOI extended for North Bridge Road building sale following revised URA guidelines

Kalynskye Adrian

/ EdgeProp Singapore

June 9, 2026 5:06 PM SGT

kalynskye.adrian@edgeprop.sg

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The building at 402 North Bridge Road was launched for sale on May 12 with a guide price of $70 million (Photo: ETC)

A six-storey commercial building at 402 North Bridge Road that was launched for sale via an expression of interest (EOI) exercise on May 12 will have its deadline extended from June 11 to July 9.

According to ETC (a member of Realion Group), the sole marketing agent for the property, the extension follows a revision in URA planning guidelines that broadens uses allowed for developments in the Upper Circular Road and Beach Road areas.

Previously, new development applications for hotels, backpackers’ hotels and serviced apartments were generally not allowed in the two areas.

In a June 5 circular, URA announced it will lift these restrictions, providing a wider range of options for building owners. The move is in line with URA’s pro-business initiatives to address business needs and encourage more vibrancy and diversity in the Upper Circular Road and Beach Road areas, the agency adds.

The revised guidelines apply to 402 North Bridge Road, as the property falls under the designated Beach Road area. As such, ETC has extended the deadline for its EOI exercise to allot additional time for interested parties to fully evaluate the property.

Swee Shou Fern, head of investment advisory at ETC, says the revision in guidelines is “timely”, as parties that have shown interest in the asset are keen to explore the adaptive reuse of the building for a hotel. “The policy shift enhances the long-term attractiveness of the asset, given the wider range of value creation opportunities now,” she adds.

The 999-year leasehold building sits on a site spanning 3,268 sq ft, with a gross floor area (GFA) of 17,729 sq ft. The EOI exercise for the property was launched with a guide price of $70 million, which translates to $3,948 psf based on the GFA.

Under the 2025 URA Master Plan, the site is zoned for commercial use, which means it may be purchased by both local and foreign buyers. It is not subject to any additional buyer’s stamp duty or seller’s stamp duty.

The building is located next to Raffles Hotel. Other developments nearby include Raffles City, Bugis Junction and Suntec City.

It is also close to several MRT stations, including Esplanade MRT Station (on the Circle Line), City Hall MRT Interchange (on the East-West and North-South lines) and Bugis MRT Interchange (on the East-West and Downtown lines).

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EOI extended for North Bridge Road building sale following revised URA guidelines

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