Maxwell House Singapore - 20 Maxwell Road En Bloc Sale

Maxwell House Singapore – 20 Maxwell Road En Bloc Sale

Maxwell House Singapore, a commercial office tower in district 1, has been put up for collective sale.

Cushman & Wakefield, the appointed real estate consultant announced the news.

The owners have set the reserve price at S$295 million, after 80% of them have agreed and put up the property for sale.

Maxwell House Singapore is a 99-year leasehold site which built in 1971. The commercial property is close to central business district.

The 13-storey office tower which located at 20 Maxwell Road sits on a trapezoidal island plot with 4 sides view.

Under URA Master Plan 2019, the prime site is zoned for commercial use and has a plot ratio of 4.3. The site covers an area of 41,801 square feet.

According to Cushman & Wakefield, they stated that URA had given advice that it will support a mixed-use development (residential & commercial) with 5.6 plot ratio and (GFA) gross floor area of about 234,086 sq ft.

Upon successful rezoning, the gross plot ratio will then increase to about 30%.

Maxwell House Site Usage and Redevelopment

The marketing agent said that the commercial quantum shall not exceed more than 20% of the (GFA) total gross floor area.

If the site is used for mixed development (80% residential, 20% commercial), the land rate will arrive at S$1,691 psf ppr.

The land rate includes 7% bonus balcony plot ratio, an additional increase in the balcony area for the residential component with added differential premium and lease upgrade after all are factored in, said Cushman and Wakefield.

The maximum allowable height for commercial building is 21 storeys high.

The prime site also has another redevelopment option which is “hotel use” said Cushman & Wakefield. This is subject to approval from the authorities.

If hotel development is chosen, the land rate will increase to S$1,998 psf ppr which will include estimated lease upgrading premium and differential premium, according to Cushman & Wakefield.

A Rare Prime Site Should Grab Hold

Due to great business location and excellent connectivity of the site, this is one of the best and rare residential plots listed in the collective sale market, Cushman & Wakefield said.

The commercial site should get lots of attention and well received given that is part of the business and heritage district, the agent added.

This also one of the best “work-live-play” sites available for sale since the prime site is surrounded by a plethora of retail outlets, shopping malls, restaurants and entertainment. Furthermore, is close to numerous attractions and interesting places.

When comes to commercial investment, location is one of the most important.

Maxwell House Singapore not only located at the fringe of the central business district, it is also close to conservation shophouses in Tanjong Pagar and Chinatown.

The site is easily access from all directions with MRT Stations and bus stops found within.

The closest station Maxwell MRT, which is only 3 mins walk will be completed in 2022. Other MRT stations within walking distance are Outram Park MRT, Tanjong Pagar MRT, Telok Ayer MRT and Chinatown MRT.

Best of all, the convenience Maxwell Food Centre is only 1 min walk away.

The public tender for Maxwell House Singapore site will close on Nov 12 at 3pm.

Maxwell House Singapore En Bloc Details

Tenure: 99-year Leasehold

Land Size: 41,801 square feet

Plot Ratio: 4.3
(Redevelopment) Mixed-use: 5.6
(Redevelopment) Hotel Use: 5.6

Nearest MRT: Tanjong Pagar

Address: 20 Maxwell Road

District: 1

Marketing Agent: Cushman & Wakefield

Reserve Price: S$295 million

Status: For Sale
Tender Close: Nov 12, 2020
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