Shenton House launches $590 mil collective sale tender

Within the CBD Incentive Scheme announced in 2019, the location is eligible to get a 25% incentive GFA moreover can possibly be redeveloped toward a mixed-use or hotel project, at a gross plot ratio of 14.0.

Neighbouring industrial structures consist of Asia Square Towers 1 & 2, UIC Building, OUE Downtown, and SGX Centre. The upcoming IOI Central Boulevard Towers, Marina One mixed-use property, Capital Tower, also integrated development Guoco Tower are too around.

According to a news release from JLL, the sole marketing representative, the real estate’s unit land rate is based on the areas’ business zoning with a 40% residential gross floor surface area (GFA), plus this reflects about $2,035 psf per plot ratio (ppr) at a gross plot ratio of 14.0.

MRT terminals near to the place are Shenton Way on the Thomson-East Coast Line, Marina Bay Interchange on the North-South and also Circle Lines, Downtown on the Downtown Line, and even Tanjong Pagar on the East-West Line.

“We’re confident in Singapore’s capacity to position quality CBD properties in the middle of increasing need coming from either the clients plus owner-occupiers that are considering having an interest in the medium- to long-term opportunities of the land,” says Tan.

Lentor Hills Residences Singapore

This unit land cost consists of the estimated $446 million price of the land enhancement cost together with a lease top-up fee to a fresh 99-year land period. On top of that, if an added 7% bonus balcony GFA for the household component is consisted of, the unit land premium will certainly be around $2,012 psf ppr.

Shenton House is on a 36,350 sq ft, rectangular-shaped spot that boasts triple road fronts on Shenton Way, Park Street, and Shenton Land. The 99-year leasehold development at the moment consists of 203 commercial units including a carpark.

” The place is ideally located in the prime District 1, a well-established location for Grade-A workplaces that attract big companies,” says Tan Hong Boon, managing director of capital markets at JLL. “Constructors may capitalise on the boosting demand for residences in mixed-use projects and provide luxury flats with ground-floor retail store and F&B to match the workplace visibility.”

Shenton House, an industrial building on Shenton Way in the CBD, has recently launched a cumulative sale tender with a reserve rate of $590 million.

error: Content is protected !!