As dust settles down on the Singapore En Bloc market and the New Year 2019 commences with new vigour, tenders of a dozen new launches are open for investors and developers to choose from.
The six strata owners of Merchant Building along with their Marketing Partner, Cushman & Wakefield still await takers after the December 5, 2018 closing date, banking on the conducive environment in the country for global investments, Business Offices offering flexible workspaces, family offices, Tech Companies, Transport Networking Companies etc.
With a GFA of about 7,780 square feet in seven floors housed on 1,125 square feet of land, it is zoned commercial under Master Plan 2014 of URA with 4.2 GPR.
Located at 76 South Bridge Road at prime CBD, it falls within URA’s purview of the Upper Circular Road Conservation Area and envelope control.
The reserve price of S$23.5 million translates to S$3,028 psf on GFA.
With close proximity to essential amenities including entertainments, the area is one of the most happening places bustling high with activity.
At walking distances to Raffles place and Clarke Quay MRT, this freehold site attracts high footfall.
With no ABSD charges, it has high redevelopment potential with option for change of use.
Subject to approval, it could be renovated through Addition & Alteration (A&A) works by brand investments looking to utilize the existing infrastructure.
With restricted supply of office rental spaces forecast in CBD for 2019 and rental rates ever on the increase, thriving business houses could grab this collective sale to settle on their own space with naming rights.
What’s more, it might even attract companies in China that look to relocate their Regional Head Offices to Singapore in the wake of the present US-China trade relations.
The owners of Merchant Building and En Bloc enthusiasts in the property market welcome the fortunate successor on this New Year.