Siglap Shopping Centre Singapore En Bloc Sale

Siglap Shopping Centre Singapore – Commercial En Bloc Sale 2020

Siglap Shopping Centre Singapore has been put up for collective sale through a public tender recently for a guide price of S$120 million.

A mixed-used, freehold site, the sale of Siglap Shopping Centre will be managed by marketing agency OrangeTee Advisory.

There are 8 commercial units and 8 residential units in this shopping centre that was built in 1980. It is located along 883 – 903A East Coast Road encompassing total 39,635 sq ft of area

According to OrangeTee, a land plot covering 5005 sq. ft area belonging to the state adjoins the enbloc site. If that can be incorporated with Siglap then the resultant 44,640 sq. ft area can be used for commercial and residential purposes.

This however is only possible upon necessary approval from authorities.

With 3.0 GPR (gross plot ratio), under the 2019 Urban Redevelopment Authority’s Master Plan this property is marked for residential use while commercial spaces are also available. The allowable building height, according to URA’s Master Plan is only four storeys.

The asking price of S$120 m means that land rate comes to about S$1,235 psf per plot ratio after the additional 7% bonus residential GFA from the private outdoor space is factored in.

The reserve price is also inclusive of the development charge that is estimated to be S$47.47m as well as the alienation cost for the adjoining state land plot of S$7.2m.

Most Likely to Draw Interests from Developers

Since the site is reputed in District 15 and it also has a freehold tenure, it is likely to interest developers said OrangeTee ‘s Executive Director Edmund Lee.

According to Mr. Lee, the optimum site area along with the frontage of around 60 mtrs overlooking the East Coast Road will offer prospective developers the chance to build a mixed-use site that rightly caters to the changing demands of the buyers.

The Siglap Shopping Centre is located close to the Parkway East Hospital, Parkway Parade and Bedok Mall. The educational institutions like Victoria School, CHIJ Katong Convent, Victoria Junior College and St. Patrick’s School are located in close vicinity.

According to OrangeTee, the Bedok MRT and Kembangan stations are near by while the East Coast Parkway and the Pan Island Expressway and are easily accessible. The forthcoming Siglap MRT station that is being built at the Thomson-East Coast Line is few mins walk away.

Director of OrangeTee, Tay Liam Hiap said that the Siglap and Katong districts have been attracting investors along the East Coast as they offer numerous dining, recreational and shopping opportunities.

Mr. Tay further added that being close to the beaches, parks and the Changi Airport also adds to the attractiveness of the area for home buyers.

The tender shall close on 9th December at 3 PM.

Siglap Shopping Centre Singapore En Bloc Details

Tenure: Freehold

Land Size: 39,635 square feet

Total Units: 16

Gross Plot Ratio: 3.0

Nearest MRT: Siglap (2023)

Address: 883 – 903A East Coast Road

District: 15

Marketing Agent: OrangeTee

Reserve Price: S$120 million

Status: For Sale
Tender Close: December 9, 2020 at 3pm
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