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ABOUT THE EN BLOC SALES
The Realty Centre which is located in District 02 at 15 Enggor Street is launched into tender with a reserve price amounting to $165 million. This property is comprised of a 12-storey commercial building holding a freehold tenure. Its marketing agent Cushman & Wakefield launched this tender for a second attempt last January 2019. This promising property is also close to the Skysuites@Anson by the renowned Arcadia Development Pte Limited in District 02 which offers a great array of opportunities to its residents.
Though the sale price was below the set reserve price, Realty Centre’s marketing agent is still happy on the result. It was the first commercial collective sale that has become successful in the year 2019. Amounting to $148 million, this en bloc site was sold to a Chinese conglomerate, The Palace Holdings.
Cushman & Wakefield announced that the property will be a part of the Anson Precinct based on the CBD Incentive Scheme with an allowable height of 35 storeys with a 5.6 plot ratio. The Director of Capital Markets referred to the site as a “versatile site” as its location is going under a massive transformation. This means an excellent benefit for the new development that will soon rise in the site.
The deal on this tender was closed on April 23, 2019. The buyer company also mentioned that they plan to make the site as their headquarters in their latest filing to the Singapore Exchange (SGX).
REALTY CENTRE LOCATION
Realty Centre is primarily located within just a few minutes drive to the prestigious Gardens by the Bay. This area in District 02 is well surrounded by the best and essential amenities for a satisfying residential lifestyle.
Within a short-range are renowned schools that offer an exemplary quality of educational services. Some on the list are Camford International College, Cantonment Primary School, Amity Global Business School and Lithan Hall Academy to mention some.
Enjoyable amenities have been very accessible for the residence. Different establishments such as malls and recreational facilities are just within a hand’s reach. They offer leisure amenities that allow residents to have a gratifying lifestyle. Establishments like the Amara Shopping Centre, Maxwell Food Centre, International Plaza are among these amenities.
The prestigious Gardens by the Bay which is a very popular destination for tourists are also a short drive away. Accessibility to these areas is easy through the Marina Coastal Expressway (MCE) and Central Expressway (CTE). Commuting can be as comfortable as you can imagine through the nearby MRT stations such as Raffles Place and Tanjong Pagar MRT.
MODE OF TRANSPORT
- Keppel Viaduct
- Marina Coastal Expressway (MCE)
- Central Expressway (CTE)
- Outram Park MRT
- Marina Bay MRT
- Tanjong Pagar MRT
- Raffles Place MRT
- Telok Ayer MRT
- Havelock MRT
- Lithan Hall Academy
- Cantonment Primary School
- Camford International College
- Maxwell Food Centre
- Amara Shopping Centre
- International Plaza
- Singapore General Hospital
- Pearl’s Hill City Park
- Chinatown Heritage Centre
POTENTIAL OF THE SITE
This site nestled in District 02 is a very accessible address which has a very great potential for redevelopment. This address is the former home of Realty Centre, a commercial establishment with office spaces. Zoned for commercial use per the URA Master Plan 2014, the redeveloped site has an allowable 35-storey height. Its plot ratio is 5.6 with an approximate land area measuring to 11,000 square feet
Its buyer, The Place Holdings, a Chinese conglomerate mentioned that they are planning to use the site as their headquarters in the country. The site can cater to a luxurious development that will surely be iconic. With the CBD Incentive Scheme for the 2019 Draft Master Plan, if there will be a change of use for this site, it can yield a majestic hotel or mixed-use development. It will be eligible to have a plot ratio bonus ranging between 25% and 30%.
REALTY CENTRE NEW CONDO REGISTRATION OF INTEREST
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The Realty Centre which is located in District 02 at 15 Enggor Street is launched into tender with a reserve price amounting to $165 million. This property is comprised of a 12-storey commercial building holding a freehold tenure. Its marketing agent Cushman & Wakefield launched this tender for a second attempt last January 2019.
Product SKU: Realty Centre
Product Currency: SGD
Product Price: 148000000
Product In-Stock: InStock