Cushman & Wakefield has been proud to announce the first commercial collective sale of the year 2019 – the Realty Centre at S$165 million, within the first week of the New Year.
The asking price translates to S$2,714 psf ppr including the development charges appraised at S$2.2 million.
Zoned commercial under Master Plan 2014, this site of area 1,021.9 sqm or 11,000 sq ft is located at 15 Enggor Street within the Central Business District.
While the current development has about 59,355 sq ft GFA (5.4 times the plot ratio), it has a redevelopment potential of GFA 321,797 sq ft (5.6 times) within the allowable 35 storey height.
The Realty Centre site offers the perfect live, work and play environment that the URA envisions for every redevelopment in the island country.
It is a freehold site within the Central Business District.
It has easy access to Tanjong Pagar MRT Station (nearest @ 0.35 km), Outram Park MRT Station (@ 0.91 km) and Telok Ayer MRT Station (@ 1.03 km), connecting well with other parts of the City.
The Prince Edward Road MRT station (@ 0.30 km) would be made available by 2025 to complete the Circle Line 6 (CCL 6). It is expected to enhance connectivity for direct east west travel.
The site is close to multiple bus stops in Anson Road and Tanjong Pagar Road.
It is surrounded by complexes like Tanjong Pagar Complex, Springleaf Tower, Tanjong Pagar Plaza, Icon Village etc. that houses a host of restaurants and food courts.
Affordable and delicious food are also available around the corner at Maxwell Market and Amoy Street Food Centres.
The close location to other business hubs like Raffles Place, Shenton Way, Raffles City, Marina Centre, Downtown etc. augments the value of Realty Center site.
The Amara, M Hotel, Carlton City, Oakwood Premier are some business class hotels that could accommodate the international guests coming down to visit business houses in Realty Centre.
The enbloc site is close to residential properties like Skysuites @ Anson, ICON, Pinnacle @ Duxton etc.
Lifestyle amenities including retail shopping, grocery, banking etc. are available at Amara Shopping Centre, 100AM, Icon Village, Tanjong Pagar Plaza, International Plaza, Pearls Centre, Chinatown Complex, China Square, Shop N Save, Cold Storage and Sheng Siong Supermarkets.
Cantonment Primary School, Chij (Kellock) and Radin Mas Primary School are some primary level educational institutions in the vicinity.
The Jewellery Design and Management School, Inspiration Design International School and Chatsworth International School at Orchard are some International Schools options available to families with students, who wish to pursue higher studies at close proximity.
The Merlion Park, Marina Bay Sands, Gardens by the Bay, The Fullerton Heritage, Marina Barrage are few places that could delight the business guests after a day of productive work. They also serve as places to hang out with family and friends in the weekends.
Transformation has been synonymous with Tanjong Pagar, which has experienced a series of transformation from a boring fishing village to a busy harbour and more, especially after it became Singapore’s first area with conservation plans in the 1980s.
It then became the business hub with MNCs, startups, Government Departments intermixed with people living in residences as high as 50 floors among beautiful sky gardens.
It boasts the modern tallest building of the Island, Guoco Towers at 290 meters as well as low rise heritage shophouses to synchronize the new and old with an aesthetic sense.
City-in-a-Garden is the vision of the Urban Redevelopment Authority for the nation and Tanjong Pagar is all set to experience this next level transformation.
The initial step for the planned Great Southern Waterfront is the shift of Container Terminals along Tanjong Pagar and Pasir Panjang completely to Tuas Mega Port, the world’s largest transhipment hub, by 2025.
The 1000 hectares of land that would be freed up in the process would inaugurate the Great Southern Waterfront, where picturesque settings to live, work and play are envisioned for the existing and new fortunate generation.
Many unique waterfront districts with residential, commercial, cultural and entertainment components have been planned to make Singapore the most sought-after world-class city.
Public places to promote enjoyable street life, outdoor water recreations, beautiful network of canals, admirable streetscapes are part of the Great Southern Waterfront dream project.
Among the green network to promote biodiversity, spaces for public events and activities too have been planned for a new healthy and vibrant living.
Major shipping companies have already started clearing up Tanjong Pagar Terminal ahead of schedule, making the dream of 2030 closer than expected.
The Director of Capital Markets, Cushman & Wakefield, Christina Sim firmly believes that the Realty Centre site is the crème de la crème, offering the rare chance to participate in the Tanjong Pagar Master Plan.
The site guarantees the wonderful future that Singapore city life is set to offer its citizens at the next level.
If some Investor or Developer could foresee the best of history evolving around the Realty Centre masterpiece site, it is a win-win for all the stakeholders involved.
Success resonates on the commercial collective sale category since the unprecedented July 6 measures, and has been growing from strength to strength, to the delight of the entire En Bloc market.
The chance to participate in the Realty Centre tender is open until 3 pm, February 21, 2019.