Golden Wall Centre in Rochor up for collective sale with $260 million price tag
By Timothy Tay
/ EdgeProp |
The freehold commercial building, Golden Wall Centre at 89 Short Street in Rochor, has been put up for collective sale with a $260 million price tag, announced marketing agent Edmund Tie & Company (ET&Co). This translates into $2,194 psf per plot ratio.
The property sits on a 24,239 sq ft plot which is zoned for commercial use under the 2014 Master Plan. It could be redeveloped up to its existing gross floor area of 118,488 sq ft, exceeding the permissible 4.2 plot ratio as indicated in the master plan, says ET&Co. Golden Wall Centre is served by the Rochor MRT station on the Downtown line, and it is 400m to the Little India MRT interchange. It has a 180m, triple frontage along Rochor Canal Road, Short Street and Albert Street.
The new commercial development could be redeveloped up to its existing gross floor area of 118,488 sq ft, exceeding the permissible 4.2 plot ratio (Picture: ET&Co)
The new commercial development on the site could be a corporate headquarters, or for strata sale in a market where freehold strata retail and office properties next to MRT stations are rarely available for sale, says Swee Shou Feng, senior director of investment advisory at ET&Co. The redevelopment will also benefit from the on-going rejuvenation of the area, where new developments like DUO and Tekka Place - a retail mall with 320 serviced residences, located opposite Golden Wall Centre – have appeared.
The tender closes on Nov 23.
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