The subject property is put up for auction on the 16th of August 2023.
Rare configuration in CBD.
Wide frontage of approximately 32.6m for ground floor unit and 38.4m for upper floor unit.
Approximately 58 years balance lease.
Currently tenanted to a nightlife entertainment operator until 2027 Q1.
The Urban
Redevelopment Authority (URA) has targeted
this precinct under its Central Business District
(CBD) Incentive Scheme, which aims to
transform it into a vibrant, mixed-use district.
There is a provision for an increase in
development intensity, should a change of
land use occur in the future. This provision
greatly enhances the opportunity for a
profitable en-bloc sale or redevelopment.
The subject property is put up for auction on the 16th of August 2023.
Rare configuration in CBD.
Wide frontage of approximately 32.6m for ground floor unit and 38.4m for upper floor unit.
Approximately 58 years balance lease.
Currently tenanted to a nightlife entertainment operator until 2027 Q1.
The Urban
Redevelopment Authority (URA) has targeted
this precinct under its Central Business District
(CBD) Incentive Scheme, which aims to
transform it into a vibrant, mixed-use district.
There is a provision for an increase in
development intensity, should a change of
land use occur in the future. This provision
greatly enhances the opportunity for a
profitable en-bloc sale or redevelopment.