High Street Plaza Singapore - En Bloc Sale 2021

High Street Plaza Singapore – En Bloc Sale 2021

The Second EnBloc Site That Launched in 2021 and February Might Be the “Lucky & Prosperous Month” for the Owners

High Street Plaza, a prime mixed-use site near CBD has been put up for collective sale via public tender and the owners have set S$239 million as the reserve price.

The appointed property consultant ERA Realty Network confirmed on Wednesday.

The attractive site was launched for sale only after owners who hold more than 80% of the share value and strata area in this mixed development agreed to this collective sale.

Completed in the 1970s, High Street Plaza is a 11-storey office tower that mostly made up of office units and has a tenure of 999-year leasehold.

Base on the reserve price, the land rate works out to around S$2,153 psf ppr.

Confirmed by the (URA) Urban Redevelopment Authority for the land plot, the site is zoned for commercial use and it has 110,974 square feet of existing gross floor area and impressive (GPR) gross plot ratio of 8.388.

Terence Seah, senior division director of ERA said this commercial site offers great opportunity to any investors or developers to name their own prized asset with the promise of growth.

He added that such prime redevelopment site near central business district is hard to find and not always available for sale in the market and he expected tight supply of new commercial space in the near term.

He further added that prospective buyer should consider this site as it has rare attractive “999-year Leasehold” tenure, great business location, connectivity with abundant of amenities around.

It is interesting to know that High Street Plaza’s neighbour High Street Centre also attempt and launched for collective sale in 2020 last year with S$800 million as their reserve price.

High Street Plaza – A Site That Doesn’t Lack Anything

High Street Plaza En Bloc Site Full Of Attractions

High Street Plaza is located at 77 High Street, district 6 near vibrant central business district of Singapore.

The location of High Street Plaza prime site is quite superb and it doesn’t lack anything.

From dining, shopping and entertainment options, one has endless of choices. Mega malls, famous established F&B and entertainment outlets can easily be found in the area. Simply to say one of the best mixed-use redevelopment sites offer in the market.

For connectivity, it has many MRT stations close by namely Clarke Quay, City Hall, Raffles Place and Fort Canning. All these are only 5 to 13 mins walk away.

Among the prominent building, the Supreme Court, Parliament House, The Treasury and Old Hill Street Police Station are located in the vicinity.

Interesting Places and Attractions like Esplanade – Theatres on the Bay, Merlion Park, Singapore Flyer, Clark Quay & Boat Quay Entertainment Zone are also close to the en bloc site.

Once redeveloped, the mixed-use property will have a unblock 360-degree breathing-taking view of Chinatown, Marina Bay, Fort Canning, Raffles Place and the Beach Road corridor.

The chairman of the (CSC) collective-sale committee, Manu Bhojwani said that the area of High Street Plaza has rich history, it’s used to be popular known as chui sien mng in Chinese which literally means “water fairy gate”.

Back in the 1800s, it was a gateway and the area was served as the alighting point along the river. Since heavy traffic flow from there, the High Street easily became a very popular shopping haven for the locals.

The public tender for High Street Plaza site closes on February 24 at 3 pm.

High Street Plaza Site En Bloc Details

  • Status: For Sale

  • Tenure: 999-year Leasehold

  • Land Size: 13,229 sq ft

  • Gross Floor Area: 110,974 sq ft

  • Gross Plot Ratio: 8.388

  • Address: 77 High Street

  • District: 6

  • Nearest MRT: Clarke Quay, City Hall & Fort Canning

  • Marketing Agent: ERA Realty Network

  • Reserve Price: S$239 million 

  • Tender Close: February 24, 2021

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