As En Bloc Sales fever spreads among mature commercial establishments, it catches up once again at the Golden Wall Centre, at this prime time.
After almost two years, the owners are back along with their Sales Partner, Edmund Tie & Co (ET&Co) and have issued the Tender Notice.
With a reserve price of S$260 million, which translates to $2,194 psf ppr, this freehold commercial property has a high plot ratio of 4.88.
With a rare triple frontage (180m) along Rochor Canal Road, Short Street and Albert Street, this building measuring gross floor area of 118,488 sq ft sits snugly on a land area of 24,239 sq ft plot.
It boasts of a strategic location in District 7 on the border of the City, with three MRT stations – Rochor MRT Station, Little India MRT Station and Bras Basah MRT Station within walking distances.
While the nearest is Rochor MRT at 300 meters approx., the interchange, Little India MRT is at 400 meters approx.
Commercial properties comprising Retails and Office spaces with such close proximity to MRT stations are rarely available for sale.
It offers a variety of options for redevelopment. Subject to approval, it serves as a perfect choice for hotel development with a host of tourism spots in the vicinity, as envisioned by Senior Director of the Investment Advisory, ET & Co., Swee Shou Fern.
Currently, Village Hotel Albert Court and Parc Sovereign are some mid-tier class hotels serving the purpose.
As also ideated by ET & Co, this could also be redeveloped into a commercial building equivalent to the current GFA, exceeding the 4.2 plot ratio of Master Plan 2014, subject to the approval of the authorities.
Also called the Golden Wall Auto Centre, this property is deemed to benefit from the rejuvenation of the Beach Road and Bugis area under way, as foreseen by ET & Co.
This advantage already flocked residential properties like Duo and multi-purpose projects like Tekka Place, which received grand reception from the public.
The tender for Golden Wall Centre closes on Nov. 23rd, 2018.