Freehold Katong Shopping Centre up for collective sale at S$638 million
  • Investment Advisory
  • 18 April 2023

Freehold Katong Shopping Centre up for collective sale at S$638 million

 

Katong Shopping Centre

 

Singapore, 18 April 2023 – Edmund Tie & Company (EDMUND TIE), the sole marketing agent for the collective sale of Katong Shopping Centre, is pleased to put up for sale the freehold property located on Mountbatten Road in prime District 15. 

Interested parties are invited to submit their offer by 19 May 2023, 3 pm.

Occupying a corner land plot of 86,924 sq ft, Katong Shopping Centre boasts high visibility with a combined dual road frontage of approximately 210 metres along Mountbatten Road and Haig Road.

The existing building currently comprises a 7-storey podium block and a 5-storey annex block, accommodating a total of 425 strata shop and office units, and a privately held carpark. The total gross floor area of the development is approximately 280,000 sq ft reflecting a gross plot ratio of 3.223.

Under Master Plan 2019, Katong Shopping Centre is zoned for “Commercial & Residential” use at a gross plot ratio 3.0. The site can be redeveloped into a landmark integrated development at its existing plot ratio of 3.223, with the option of converting the residential component into serviced apartments, subject to authorities’ approval.

Guide price is S$638 million, which reflects $2,277 per square foot per plot ratio (psf ppr) over its existing gross floor area.

Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at EDMUND TIE, says, “The amenity-rich East Coast precinct has been one of the most desirable residential enclaves in Singapore and Katong Shopping Centre presents a rarely available freehold mixed-use redevelopment opportunity in this vicinity. The new integrated development will benefit from its prominent 210-metre dual-street frontage, with its commercial component serving a wide catchment of more than 6,000 private housing units within a 500-metre radius of Katong Shopping Centre. Some of these nearby residential developments include The Shore Residences, Amber 45, Silversea, The Esta, One Amber, upcoming Tembusu Grand, among others.

“For the residential component in the new development, the developer also has the option to develop serviced apartments, subject to planning approval. There is no restriction on foreign ownership of this freehold mixed-use site,” she added.

The Marine Parade MRT station on the Thomson-East Coast Line is located about 500 metres away, which will provide convenient access to all parts of Singapore when it is operational in 2024.

Nearby educational institutions include Tao Nan School and CHIJ (Katong) Primary, both within 1 km of Katong Shopping Centre, as well as Dunman High School, Chung Cheng High School, Victoria Junior College, Canadian International School, among others.

END

For further information contact:

Swee Shou Fern (Ms)

Executive Director

Investment Advisory

DID: +65 6393 2523

Email: shoufern.swee@etcsea.com

Media please contact:

Lewis Chua (Mr)

Corporate Communications

DID: +65 6393 2510

Email: lewis.chua@etcsea.com

 

 

Back
to Top