Siglap Shopping Centre up for collective sale at $120 mil

By
/ EdgeProp Singapore
|
October 28, 2020 1:10 PM SGT
SINGAPORE (EDGEPROP) - Owners of Siglap Shopping Centre have put up the development for collective sale at a guide price of $120 million, or a land rate of $1,235 psf per plot ratio, according to OrangeTee, which is marketing the property.
Siglap Shopping Centre - EDGEPROP SINGAPORE
Siglap Shopping Centre (Credit: OrangeTee)
Siglap Shopping Centre, along East Coast Road, comprises eight commercial units and eight residential units. It was completed around 1980 and sits on a site of 3,682.2 sq m (39,635 sq ft). There is an adjoining state land plot of 465 sq m (5,005 sq ft) that may be amalgamated to form a larger combined site of 4,147.2 sq m (44,640 sq ft), subject to approval from the relevant authorities, says OrangeTee.
Under URA’s Master Plan 2019, the site is zoned “Residential with Commercial at 1st Storey”, with a gross plot ratio of 3.0 and a building height control of four storeys.
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The Siglap Shopping Centre site is close to a range of amenities such as Bedok Mall, Parkway Parade and Parkway East Hospital, and schools like Victoria School, St Patrick’s School, CHIJ Katong Convent and Victoria Junior College. It is an 11-minute walk to the upcoming Siglap MRT Station on the Thomson-East Coast Line.
The tender for the site will close on Dec 9 at 3pm.