Shenton House launches $590 mil collective sale tender
This unit land price consists of the assessed $446 million price of the land enhancement fee and a lease top-up premium to a fresh 99-year land term. Furthermore, in case an extra 7% bonus veranda GFA for the household factor is incorporated, the unit land premium will certainly be about $2,012 psf ppr.
Within the CBD Incentive Scheme revealed in 2019, the place is qualified to get a 25% bonus GFA and also can possibly be redeveloped right into a mixed-use or lodging development, at a gross plot ratio of 14.0.
MRT stations near the location are Shenton Way on the Thomson-East Coast Line, Marina Bay Interchange on the North-South and Circle Lines, Downtown on the Downtown Line, and Tanjong Pagar on the East-West Lane.
According to an announcement from JLL, the sole promotional representative, the property’s unit land price is based upon the areas’ business zoning with a 40% residential gross floor area (GFA), plus this reflects approximately $2,035 psf per plot ratio (ppr) at a gross plot ratio of 14.0.
Shenton House, an industrial building at Shenton Way in the CBD, has introduced a cumulative sale tender with a reservation rate of $590 million.
“We’re certain in Singapore’s capacity to position high quality CBD investments among climbing demand coming from either the buyers along with owner-occupiers who are looking at obtaining a stake in the medium- to extended opportunities of the country,” states Tan.
” The place is ideally placed in the top District 1, a reputable area for Grade-An offices that appeals to big companies,” states Tan Hong Boon, managing supervisor of capital markets at JLL. “Constructors can capitalise on the increasing demand for houses in mixed-use developments as well as offer high-end houses with ground-floor retail store along with F&B to enhance the office presence.”
Blossoms By The Park condo price
Neighbouring commercial buildings include Asia Square Towers 1 & 2, UIC Building, OUE Downtown, including SGX Centre. The upcoming IOI Central Boulevard Towers, Marina One mixed-use property, Capital Tower, furthermore incorporated property Guoco Tower are even in the vicinity.
Shenton House gets on a 36,350 sq ft, rectangular-shaped site that boasts three-way roadway front views on Shenton Way, Park Street, and even Shenton Land. The 99-year leasehold property presently contains 203 business units also a carpark.
