Sultan Plaza EnBloc Potential Sale 2019 – (Success is High & Real)

Sultan Plaza En Bloc Potential Sale 2019

See Latest News: Sultan Plaza En Bloc Sale Relaunch 

Owners of Sultan Plaza has chosen the right time to launch their En Bloc Sale, this is when commercial sector shines the brightest in 2019.

The 99-year leasehold estate has been launched at S$380 million reserve price. It houses several offices at the present and has been one of the most popular office rental sites in District 7 over the last many years.

Going by the reserve price the land-rate for the 244-unit translates to S$1,860 psf ppr. The development located in Jalan Sultan which is just off the Beach Road recently received the required 80% mandate from its owners who are optimistic about the prospects of this property given its advantages location.

The commercial tender for the sale was launched on January 16. The reserve price of S$380 million is inclusive of the development charges payable and also the differential premium.

Built in the 1970s, Sultan Plaza covers a total land area of 52,471 sq ft and as per the last Master Plan it has been zoned ‘commercial’.

The site has good redevelopment potential and after receiving due permission from the authorities it can be redeveloped up to 283,803 sf ft exercising its full gross plot ratio of 5.30.

Tender Result On March 28: No Bidders

Please See Latest News Here: Sultan Plaza En Bloc Sale Relaunch

Sultan Plaza @ famous Beach Road District 7 Singapore
Beach Road Singapore – A Vibrant and Bustling Business District

Sultan Plaza Has Lots to Offer

The Commercial Site has lots to offer according to ERA Realty Network which has been hired as the marketing agent for the sale.

In its press release it highlighted the locational advantage of the enbloc site. It is well connected to the Central Business District and other part of Singapore which should serve as a major crowd puller when the property is redeveloped and launched for sale.

ERA Realty Network’s Group Division Director for Investment Sales, Jeremy Rikas Chiu was very excited about the prospects of this en bloc and said that they had already seen very strong mood about it in the market.

Several foreign developers and home-grown ones had already shown their interest in this property.

He added that any developer picking up this site would be buying a piece of Singapore’s illustrious history that can easily be redeveloped in a creative way and would offer enough opportunities to explore different architectural concepts.

The developer would make an important contribution to Singapore’s future architectural imprint.

The tender for Sultan Plaza shall close on March 28 at 12:00 PM

Sultan Plaza En Bloc Details

Tenure: 99-yr Leasehold

Land Size: 52,471 square feet

Total Units: 244

Gross Plot Ratio: 5.3

Nearest MRT: Nicoll Highway and Lavender

Address: 100 Jalan Sultan

District: 7

Marketing Agent: ERA Realty Network

Reserve Price: S$380 million
S$1,860 psf ppr

Status: For Sale
Tender Close: March 28, 2019

Sultan Plaza Location and Connectivity

Sultan Plaza is close to Nicoll Highway MRT

Nicoll Highway MRT Station: Only few mins walk away from Sultan Plaza

Sultan Plaza is close to Lavender MRT

The next MRT station nearby will be Lavender, distance around 450m

Sultan Plaza is located at 100 Jalan Sultan, District 7 Famous Beach Road Singapore. It is within “Popular Tourist Attractions Zone” and surrounded by all the best amenities.

Connectivity is very important to any commercial site which can result in Success or Failure. Fortunately, Sultan Plaza is blessed with 2 MRT stations close by namely Nicoll Highway and Lavender.

Nicoll Highway MRT is located 380 meters away from the enbloc site. The Circle line connects to many important places such as Paya Lebar Central, Stadium, Promenade, Bayfront and Marina Bay.

Marina Bay Sands and Central Business District can be reach by only 2 or 3 stops. Its also drive the traffic through here.

The next supply line will be Lavender MRT which situated 450 meters away with ICA building attach to it. The East West line connects to wonderful places like Bugis Junction, City Hall and Raffles Place (CBD).

With this 2 MRT Stations around, access to Sultan Plaza will be easy and conveniently. Transportation even made more easier with a Bus Stop being place in front of the commercial property. Several buses run through here and connects to most parts of Singapore.

There are also many schools in the vicinity as well with Pusat Pendidikan Azhar, Hong Wen School and Stamford Primary School being less than 600 meters from the property.

There are several eateries and fine dining restaurants in Sultan Jalan which has served as a great attraction for the property in the recent years.

Golden Landmark Shopping Complex is nearby and so are The Concourse Shopping Mall, Bugis Point, Sim Lim Tower and Fu Lu Shou Complex.

Other popular commercial places in the vicinity include Cold Storage, Shop N Save and I-Tec Supermarkets.

The famed Albert Complex and Parco Bugis Junction is also little more than a kilometre from this site and offers access to several amenities including banks and retail shopping.

Also need to mention that City Gate Singapore is the neighbour of Sultan Plaza which is just beside it. The mixed development will be Top soon in 2019.

This amazing condo comes with its own Shopping Mall and many are waiting for its opening.

The Turnaround in En Bloc Sales

Waterloo Apartments En Bloc Sold to Fragrance Group for S$131.1 million
Waterloo Apartments
Golden Wall Centre En Bloc SOLD to Worldwide Hotels
Golden Wall Centre
Selegie Centre En Bloc SOLD for S$120 million
Selegie Centre
3 Commercial En Bloc SOLD after 2018 July New Cooling Measures. There is no ABSD charges for Commercial Sale

The announcement of cooling measures in July 2018 had hit the residential en bloc market with a sledge hammer.

It introduced stringent penalty clauses for developers not being able to sell all units within five years of picking up a site and also increased the ABSD (Additional Buyer’s Stamp Duty).

But now the en bloc sale market is again gathering steam with developers having had enough time to contemplate their future course of action as far as picking and choosing the right en blocs are concerned.

Waterloo Apartments located in Bras Basah and Bugis sold for S$131 million in November last year and picked up by Fragrance Victory Pte Ltd which brought much cheers to the en bloc sale market after it had witnessed months of dampened spirits with many en bloc tenders failing to attract any bids.

Golden Wall Centre was another collective sale that managed to find a buyer at $276.2 million also in November and it was bought by the firm that that runs Hotel 81 chain.

Then in late December, Century Warehouse an industrial site sold en bloc to a private investment company and became latest commercial en bloc sold.

Though the market isn’t as upbeat as it was before the announcement of the cooling measures, we are seeing increased enthusiasm among developers wanting to increase their land bank.

If the property has good potential like Sultan Plaza, so does the developers are willing to put their money in.

A Piece of Singapore’s History

Sultan Plaza is nearby to Kampong Glam tourists Attractions
Just across the road is Kampong Glam, a popular tourists attraction. A Tourist spot nearby is a bonus for Developer. Redevelop into a Hotel is Highly Recommended
Sultan Plaza @ Beach Road is also Known as Food Haven
Beach Road is also Known as “Food Haven”. Many famous restaurants and eateries are in the area. Tourists always love to come here and taste the best food. One Word again “Hotel”
Sultan Plaza is near to Marina Bay Sands Top Attractions
Marina Bay Sands, the Top attractions in Singapore is only a short drive away or 2 MRT stops from Nicoll Highway station. Tourists will find it conveniently and easy to reach there. One Word Again “Hotel”

Sultan Plaza’s location would make it attractive for any developer. The District 7 commercial property is located on Beach Road which is as historical as the nation itself.

With more than two centuries of history and a place once reserved only for the European colonizers it can definitely claim the right of being a jewel in the crown for any developer.

In a fast-growing nation that is holding on to its past heritage and embracing the modern world, Beach Road has come to symbolize Singapore’s spirit and passion that has turned it into one of the economic hubs of the world.

Talk of the best lifestyle amenities in Singapore and one can find it here. There are many cafes and nightclubs in and around the area including Singjazz Club, Going Om, The Great Escape, Room 101, Club V6 Armani and Harmony KTV which are thronged by locals and tourists alike.

Diners to have their choice of good restaurants and eateries and some of the most famed ones include Sultan’s Kitchen, Fika Swedish Café and Bistro and Chuen Chuen Café.

There are several other places in the vicinity to experience lifestyle and relax and these include Children Little Museum, Hajjah Fatimah Mosque, Sultan Mosque, Malay Heritage Centre, Kampong Glam, King Leisure Spa and The Dive Company

Top attractions like Marina Bay Sands and Gardens By the Bay are also close proximity to the enbloc site.

New Developments Brighten Up Beach Road

City Gate Singapore Top Soon in 2019. This iconic masterpiece was developed by Fragrance Group & World Class Land

Duo Residences at Beach Road Singapore

Duo Residences. Simply Stunning Architectural. Anyone would stop by and take a glance 

South Beach Residences at Beach Road Singapore

South Beach Singapore. This Ultra-Luxury Condominium was developed by City Developments Limited and IOI Properties Group Berhad

Beach Road has been booming with activity over the last two decades and this is well reflected in the realty market here.

There are several new developments that have come up in the vicinity in the recent years.

These include Duo Residences which has become an architectural highlight in the city’s towering landscape.

With hexagonal cladding that has a net-like appearance is distinctive both in style and form.

South Beach is another major project that has been added to the Beach Road skyline. The residential cum commercial complex came up over the site of four conservation buildings that was occupied by the Army in the past.

Completed in 2016 it has turned into a mini commercial hub having a hotel, shops and several offices.

City Gate Singapore which is expected to be completed this year is the latest addition to this fast-changing landscape.

A dominating 25-storey property it is a prime example of URA’s 2014 Master Plan which has been encouraging the construction of mixed-use sites in Beach Road.

Once fully completed City Gate would house 311 residential units, 188 commercial units which have been beautifully built on a three-storey podium among which 29 would be restaurants.

There would also be a large food court and supermarket catering to the needs of residents and people from nearby developments.

The Never-Ending Growth at Beach Road

The greatest USP that would definitely attract developers towards Sultan Plaza is the growth in business activities at Beach Road.

It has become one of the fastest growing commercial hubs in the city and houses several offices and has turned it one of the major shopping destinations.

And better days are in the horizon with Urban Redevelopment Authority’s ambitious Ophir-Rochor Corridor which is expected to push Beach Road to ignite growth and business activities further.

The planned mixed-used development would see the district turn into one of Singapore’s major commercial hubs with offices, residences, shopping destinations and hotels.

This corridor will link Rochor Canal and Bukit Timah Canal to the Marina Centre and give residents and business the unbeatable combination of staying connected to the City Centre yet enjoying the lush green environ.

This precinct is all set to experience rejuvenation in the coming years.

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