SINGAPORE, 28 October 2021 – Edmund Tie & Company (EDMUND TIE), the sole marketing agent for the collective sale of Grand Building, is pleased to offer a rarely available prime commercial site at Phillip Street for sale by tender.
Located prominently at Phillip Street, Grand Building enjoys a very strategic location, at the epicenter of Raffles Place, in Singapore’s premier Central Business District (CBD). The property has a site area of approximately 493.6 sq m (5,313 sq ft) and under Master Plan 2019, it is zoned for Commercial use at plot ratio 15 and a building height control of more than 50 storeys. The indicative guide price of the building is S$195 million.
In March 2019, Urban Redevelopment Authority (URA) announced the CBD Incentive Scheme to reposition Singapore’s CBD as a 24/7 mixed-use district so that the CBD will not only be a place to work but also a vibrant place to live and play in. Raffles Place will retain the predominant commercial character of the core area of our CBD, while Robinson Road, Shenton Way and Tanjong Pagar will have a blend of mixed-uses.
Located in the heart of Raffles Place, Grand Building’s neighbours include landmark buildings like One Raffles Place, UOB Plaza, OCBC Centre, Republic Plaza as well as the upcoming CapitaSpring (former Golden Shoe). A host of F&B and entertainment amenities are readily available in close proximity including Fullerton Hotel, Sofitel Sol, Boat Quay, Telok Ayer shophouses etc. Its convenience is also unparallel, with Raffles Place MRT interchange and Telok Ayer MRT station a mere three-minute walk away.
Ms Swee Shou Fern, Executive Director of Investment Advisory at EDMUND TIE commented: “As commercial properties in Raffles Place are tightly held by the owners, Grand Building offers a rare and exceptional opportunity for investors to secure a commercial real estate at an affordable quantum in the Raffles Place within the CBD.”
“We also expect keen interest from companies seeking to own a corporate headquarters with a strong presence in the core city centre with potential naming and signage rights for the building.”
As a commercial property, there is no Additional Buyer’s Stamp Duty payable for the purchase of the site and there is also no restriction on foreign ownership.
The tender for Grand Building exercise will close on Tuesday 7 December 2021 at 3.00pm.
ENDS
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For further information contact: |
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Media please contact: |
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Swee Shou Fern (Ms) Executive Director Investment Advisory DID: +65 6393 2523 Email: shoufern.swee@etcsea.com
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Chan Yee Yin (Ms) Head Corporate Communications DID: +65 6393 2369 Email: yeeyin.chan@etcsea.com
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