Siglap Shopping Centre - East Coast Road En Bloc Sale 2020

Siglap Shopping Centre En Bloc Sale 2020 – Freehold Site

Read the Latest News Here: Siglap Shopping Centre En Bloc 2021

Siglap Shopping Centre, in popular district 15 has been launched for en bloc sale with reserve price set at S$120 million.

This was announced by their marketing agent OrangeTee Advisory, who was appointed for this collective sale.

The attractive freehold site is located at 883 – 903A East Coast Road and covers an area of 39,635 square feet.

Completed in 1980s, Siglap Shopping Centre comprises of 8 residential units and 8 commercial units.

OrangeTee said that the site has a land plot adjacent to it that measures around 5,005 square feet that can be alienated or merge to form a larger combined site of about 44,640 sq ft. This requires approval from the relevant authorities.

Under URA Master Plan 2019, the site is zoned for commercial and residential use and has a (GPR) gross plot ratio of 3.0.

The maximum allowable height for this commercial building is 4 storeys.

Base on the reserve price set by the owners, the land rate arrived at S$1,235 psf ppr, which includes,

  • Development charge estimated – S$47.47 million
  • Alienation cost for the state land plot – S$7.2 million
  • 7% bonus residential gross floor area for private outdoor spaces

The Freehold Site is Expecting Good Response from Developers

Edmund Lee, executive director of OrangeTee said that the attractive site will draw some interests from developers due to its freehold tenure and its good location in the popular District 15.

As there are always demands for residential home in this area and the site offers developers a great opportunity to build a prominent mixed-use development to cater to the lifestyle demands of buyers.

Reasons why more home hunters choosing to reside at district 15 because there are many lifestyle and recreational amenities found within.

Siglap Shopping Centre is close to many places like Jewel @ Changi, Parkway Parade, East Coast Park, i2 Katong mall, Bedok Mall, Parkway East Hospital and many good schools are also within the vicinity namely CHIJ Katong Convent, St Patrick’s School, Victoria School and Victoria Junior College.

There is an upcoming Siglap MRT station (Thomson-East Coast Line) ready in 2023 and the freehold site is easy access to Pan Island Expressway and East Coast Parkway.

Tay Liam Hiap, director of OrangeTee further added that new launch sales in this East Coast area has been performing well during the last 2 years and will continue to appeal to new home buyers due its attractiveness.

The public tender for Siglap Shopping Centre freehold site will close on Dec 9 at 3pm.

Siglap Shopping Centre En Bloc Details

Tenure: Freehold

Land Size: 39,635 square feet

Total Units: 16

Gross Plot Ratio: 3.0

Nearest MRT: Siglap (2023)

Address: 883 – 903A East Coast Road

District: 15

Marketing Agent: OrangeTee

Reserve Price: S$120 million

Status: For Sale 
Tender Close: December 9, 2020 at 3pm
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