International Plaza En Bloc Sale Launching Soon in 2021

International Plaza Launch En Bloc Sale in 2021 At S$2.7 billion

The Highest En Bloc Reserved Price Ever Set

Excitement stirs up within CBD as International Plaza finally launch their collective sale via tender.

The reserve price set at S$2.7 billion is the highest in Singapore collective sale history in terms of unit count and value.

The billion-dollar prime site price tag is up 3.8% from the S$2.6 billion asking price back in the year 2018.

The 1970s mixed-use development has an existing gross floor area of about 1.4 million sq ft and an impressive gross plot ratio of 19.24.

The magnificent commercial building comprises of 559 office spaces, 192 strata shops, 209 residential apartments, a privately owned parking and a swimming pool found on the 36th level.

The 99-yr leasehold property sits on an area of 75,089 sq ft, with maximum allowable construction height of 250 meters and has a lease term of 48 years remaining.

According to exclusive marketing agency Edmund Tie & Company, based on the RP and existing gross floor area (GFA), the land rate works out to around S$2,448 per square foot per plot ratio (psf ppr).

International Plaza satisfies all three of the CBD Incentive Scheme’s eligibility criteria: building age, current land use, and site area.

As a result, the CSC has filed an outline proposal with the Urban Redevelopment Authority (URA) for a 25% increase in GFA based on “commercial with 40% non-commercial uses such as residential.”

The land price will down to S$2,170 psf ppr if the 25% intensification in GFA is granted by the authorities.

It is important to mention that due to the property’s current commercial zoning under the URA Master Plan 2019, there is no (ABSD) additional buyer’s stamp duty to pay, and foreign ownership is not restricted.

The public tender for International Plaza site will close on Nov 30, 2021 at 3pm.

International Plaza has Tanjong Pagar MRT At their Doorstep

Excellent Connectivity with the Presence of Tanjong Pagar MRT at their Doorstep

Prestigious Commercial Business Address Within Vibrant Business District

Prestigious Commercial Business Address Within Vibrant Commercial District

Singapore History En Bloc Record Sales

Singapore History En Bloc Sales Record Price

Farrer Court Still Hold the Highest Record Sale Price at S$1.3 billion in Singapore Collective Sale History

Pacific Mansion Came in Second After It Was Sold S$980 million in 2018

Another Site Almost Sold at Billion Dollar Was Tampines Court in 2017

International Plaza Will Definitely Make History If SOLD to a Buyer

Owners are Hoping Blackrock or Blackstone Fall in Love at Their Property

Recent Biggest Commercial Sales in CBD

Some of the Largest Commercial Sales That Made Headlines

AXA Tower Commercial Sale - S$1.68 billion

AXA Tower – S$1.68 billion Sale

Tuan Sing Robinson Point Sold for S$500 million

Robinson Point S$500 million Sale

Maxwell House, the Commercial Site in District 1 Was Acquired for S$276.8 million in the Collective Sale Market This Year.

Maxwell House S$276.8 million Sale

The Biggest Headlines Will Be Alibaba Group, a well-known Chinese e-commerce behemoth that Purchased a 50% Stake in AXA Tower in 2020.

The Commercial Transaction Value Staggering S$1.68 billion.

Another Commercial Property that Changed Hand is Tuan Sing Robinson Point, Which Sold for S$500 million.

Maxwell House, the Commercial Site in District 1 Was Acquired for S$276.8 million in the Collective Sale Market This Year.

All These Commercial Sales Will Boost Investors’ Confidence Further in Singapore

Deep Pocket Potential Buyers are Always Out There, Only thing is That Which Commercial Owners Are the “Lucky Ones”.

Reaching 80% Mark is Not Easy

The mission was a “mammoth and hard assignment for our development with close to 1,000 strata units,” according to Kevin Liang, head of the Collective Sale Committee.

“Given our great location and excellent connectivity within CBD, we expect strong interest from local and international developers and financiers,” he added.

According to Ms. Swee of Edmund Tie “The redevelopment of International Plaza is the final puzzle piece in the revitalization of the Tanjong Pagar district.

We’re looking forward to hearing about the new and exciting development ideas that will be presented.”

She believes that International Plaza’s prime site has the highest advantages as it has Tanjong Pagar MRT station nearby and located near at the gateway to the Greater Southern Waterfront, Tanjong Pagar Centre integrated development, which comprises Guoco Tower and the luxurious Wallich Residence

It’s also close to AXA Tower, which will be redeveloped into a commercial retail, office, hotel, and residential building by a Perennial Real Estate-led consortium of investors and Alibaba.

Developers Target Prime Sites
Marina View White Site Sale

Property Owners Happy News with Developers Willing to Bet Big at Marine View White Site

In November 2018, news was circulating that International Plaza was planning a $2.6 billion collective sale. This was before the marketing agency was hired in the first quarter of 2019.

Despite the probable large price tag, Alan Cheong of Savills Singapore believes that International Plaza “can find a buyer since there is a lot of liquidity in the system.”

With the residential and commercial en bloc markets heating up, several property analysts predict that this collective sale will be keenly scrutinized to see how land-hungry developers respond.

Touching on Government Land Sales (GLS), an unknown developer has already committed to offer at least S$1.508 billion in June for a government property location in Marina View.

Base on the price tag and given the maximum GFA of 101,629 sq m, it works out to around S$1,379 psf ppr.

The 99-year leasehold prime site, which has the potential to generate 905 individual residences, 2,000 square meters (sq m) of commercial space, and 540 hotel rooms, has already put up for sale on June 28.

The white site was on the Government Land Sales (GLS) Reserve List for H1 2021.

The public tender will close 12 weeks after the start, the offers are likely to be above the previous bid price, according to market analysis.

The white site activate from the Reserve List demonstrates developers’ ambition to expand their landbank. It is also a good indicator that some developers are targeting at prime sites.

International Plaza En Bloc Details

Pinterest International Plaza En Bloc Sale 2021
  • Status: For Sale

  • Tenure: 99-year Leasehold

  • CBD Incentive Scheme: Property Eligible

  • (Bonus 25% GFA Gain | Status: Pending)

  • Land Size: 75,089 sq ft

  • Gross Floor Area: 1.4 million sq ft

  • Total Units: 960

  • Gross Plot Ratio: 19.24

  • Nearest MRT: Tanjong Pagar

  • Address: 10 Anson Road

  • District: 2

  • Marketing Agent: Edmund Tie

  • Reserve Price: S$2.7 billion

  • Tender Close: Nov 30, 2021

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