Sultan Plaza Commercial En Bloc Sale 2019. District 7 Sultan Plaza launch for Collective Sale at S$380 million with Developers all eyes on it.

Sultan Plaza Commercial En Bloc Sale 2019 – High Success

With recent District 7 Commercial En Bloc SOLD, Waterloo Apartments and Golden Wall Centre, another potential site is up for Sale.

Owners of Sultan Plaza has decided to launch their collective sale in New Year 2019, probably it is the best time as more developers are interested in commercial investment.

Sultan Plaza located on a sizable land area that is roughly 52,471 square feet is a development with 244 units.

The location of the commercial property is along Business-thriving Beach Road and the launch of its collective sale took place on January 16 with $380m reserve price through public tender. ERA Realty Network made the announcement.

With its 244 units, the construction of the development was in the 1970s, originally on approximately 52,471 square feet sizable land area.

According to the statement, the reserve price is a translation of estimated $1,860 psf ppr land rate, which included the differential premium payable and development charge.

Based on the ERA notification, the Sultan Plaza development baseline is 22,730.35 square meters with a maximum height of 140.49 AMSL (above mean sea level).

The redevelopment of the Sultan Plaza is still subject for approval by relevant authorities. Its gross floor area (GFA) is approximately 283,803 sq ft, equivalent to its 5.3 plot ratio.

Sultan Plaza is located at District 7 Beach Road Singapore
Sultan Plaza is Located at District 7 Beach Road Singapore – A Business-thriving District

Location is Attractive with Excellent Connectivity

The location boasts of transportation access including three MRT stations specifically the ones across different lines such as DT14 Bugis, EW11 Lavender, and CCS Nicoll Highway.

Other nearby locations include the Golden Mile Complex, Kampong Glam conservation enclave, South Beach, and Duo Residences.

Jeremy Rikas Chiu released a statement as ERA Realty Network investment sales group division director. He noted, “There are lots of opportunities that the site presented for the prospective buyer because of its captivating backdrop.

It offers a redesign of the history of Singapore particularly through creative architectural concepts, thus, contributing to the future development accounts of Singapore.”

He further added, “The neighboring site has viable and promising future expansion, which is making it remarkable for developers that aim for architectural masterpiece in its jurisdiction.”

The closure of the public tender will be on March 28, 2019 at 12 pm.

Sultan Plaza En Bloc Details

Tenure: 99-yr Leasehold

Land Size: 52,471 square feet

Total Units: 244

Gross Plot Ratio: 5.3

Address: 100 Jalan Sultan

District: 7

Marketing Agent: ERA Realty Network

Reserve Price: S$380 million
S$1,860 psf ppr

Nearest MRT: Nicoll Highway and Lavender

Status: For Sale
Tender Close: March 28, 2019
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