Bugis Cube, a commercial property located along 470 North Bridge Road has been put up for collective sale.
This was informed by Cushman & Wakefield, the marketing agents for this sale. The six-storey building that also included a car park at the basement has been listed for S$230 million reserve price.
The commercial building comprises of 119 strata-titled retail stores that include hair & nail salons, F&B outlets and a popular family karaoke lounge.
As per the reserve price the land rate for this building is arrived at S$3,452 psf ppr taking into account 66,614 sq ft (6,188.67 sq m) of Gross Floor Area that the building has. The plot ratio for this property is 5.735.
The building with a 999-year leasehold tenure sits on an 11,615 sq ft (1,079.1 sq m) plot. As per the URA’s 2014 Master Plan this site has been zoned commercial with 4.2 plot ratio and maximum allowable height of six storeys.
The marketing agent informed that more than 80% of the owners going by the strata area and share value have already consented to this collective sale.
The tender exercise for this property shall close on November 14 at 3:00 PM.