The commercial property, located in Prime District 9, was up for sale at the end of February. This is the fifth appearance of the property at a collective sale.
The price offered is $688 million which makes it around $1,474 psf ppr. In this calculation, the bonus balcony GFA for the residential compound is not included.
Under the Urban Redevelopment Authority’s (URA) 2014 Master Plan, the site is set for commercial usage.
The property covers the area of 76,617 sq. ft. on land and the total floor area becomes around 600,000 sq. ft. with its 32 floors.
The Peace Mansion is the tall 22-storey tower designated for residential purposes with two penthouses and 84 apartments. The other one, Peace Centre, is a commercial building of part-seven and part-10-storey.
According to JLL Singapore, permission has been awarded lately up to the current gross floor area of 604,578 sq. ft., at 7.89 for the mixed residential and commercial total plot ratio.