Realty Centre launched for collective sale at $165 million

/ EdgeProp Singapore
January 7, 2019 3:40 PM SGT
Realty Centre at 15 Enggor Street is within the Central Business District (Credit: Cushman & Wakefield)
In the first commercial collective sale this year, Realty Centre, an office building at 15 Enggor Street, is up for the taking at a reserve price of $165 million. This translates into a land rate of about $2,714 psf per plot ratio (ppr), and is inclusive of an estimated development charge amount of $2.188 million, according to marketing agent Cushman & Wakefield.
The freehold Realty Centre has a land area of about 11,000 sq ft. The site is zoned “Commercial” according to the 2014 Master Plan. It has an allowable gross plot ratio of 5.6 times and a maximum storey height of 35 storeys. It has a verified gross floor area of about 59,355 sq ft, or a plot ratio of 5.396.
The property is located within a 5-minute walk to the Tanjong Pagar MRT Station on the East-West Line, and the upcoming Prince Edward Road MRT Station on the Circle Line which is due to complete before 2025.
The tender for Realty Centre will close on February 21, at 3pm.