Min Yuan Apartment @ 62 Waterloo Street Launch En Bloc Sale

Min Yuan Apartment @ 62 Waterloo Street Launch En Bloc Sale

A 27-unit residential with commercial development in Waterloo Street has been put up for sale.

District 7 Heats Up Again

CBRE, the exclusive marketing agents announced the launch of Min Yuan, an apartment development with first storey commercial for S$145 million.

There is a development charge of S$19.55 million payable on this 999-year leasehold site.

By considering the development charge for this 14,629 sq ft site, the price arrived at is S$2,678 psf ppr.

Announcing the launch, CBRE informed that the site can be redeveloped into a hotel with 4.2 plot ratio with maximum permissible GFA of 61,443 square feet upon receiving necessary approval from the authorities.

The developers would need to meet the requirements for URA Outline Planning Permission and other re-zoning guidelines.

CBRE also shared details about comparable properties that transacted recently in the adjoining areas.

These include the Golden Wall Centre and the Waterloo Apartments where the priced ranged between S$2,550 and S$2,720 psf ppr once the development charges were factored in.

Min Yuan is Within Tourist Zone in Singapore

Definitely the Buyer Will Choose for Hotel Development as the En Bloc Site is Close to Many Attractions Area and Popular Tourist Zone.

Tourists can Travel around With Ease With the help of 4 MRT Stations Which is Walking Distance from the Hotel Site.

One of the Best Site for Hotel Development

Executive Director of Capital Markets and Residential Services at CBRE, Galven Tan said that this property presents a great opportunity for the developer to cash in on the Draft Master Plan 2019 that has been announced already.

Under this plan areas such as Fort Canning, Bras Basah and Bugis are likely to be completely transformed and made into centres of art, lifestyle and heritage.

He further added that once redeveloped, this hotel would offer unblocked and panoramic view of the Central Business District as well as the Fort Canning Park

There are several landmarks in the close vicinity of Min Yuan. This includes Singapore Art Museum, National Design Centre, Nanyang Academy of Fine Arts, National Museum of Singapore, School of the Arts and the Singapore Management University.

The location is well connected and four MRT Stations – City Hall, Bencoolen, Bugis and Bras Basah near it. Other major developments nearly include the Bugis Village, DUO, Bugis Plus and Bugis Junction

The closing date for the public tender is September 3, 3:00 PM

Another En Bloc Site To Be SOLD in District 7?

Will Min Yuan  Join Their Neighbors For Collective Sale Success?

Find Out More in September…

Singapore District 7 En Bloc SOLD List

See District 7 En Bloc News:

  1. Min Yuan Apartments En Bloc SOLD in 2019
  2. Selegie Centre En Bloc SOLD in 2019
  3. Golden Wall Centre En Bloc SOLD in 2018
  4. Waterloo Apartments En Bloc SOLD in 2018
Min Yuan En Bloc Details

Tenure: 999-year Leasehold

Land Size: 14,629 square feet

Total Units: 27

Nearest MRT: Bencoolen (150m)

Address: 62 Waterloo Street

District: 7

Marketing Agent: CBRE Singapore

Reserve Price: S$145 million
S$2,678 psf ppr

Status: For Sale
Tender Close: September 3, 2019
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