Tan Boon Liat Building En Bloc Sale 2025 – Freehold D3

Tan Boon Liat Building En Bloc Sale 2025 – Freehold D3

Tan Boon Liat Building has long been recognized as a furniture and lifestyle hub in Singapore.

Housing a variety of home and decor stores, the 15-storey freehold commercial building located in Outram has historical and architectural significance.

Over the years, it has been a popular destination for homeowners and designers seeking unique and high-quality furniture pieces.

The landmark building has now been listed for collective sale at $1.15 billion.

The Urban Redevelopment Authority (URA) has indicated its support for rezoning the site from industrial (Business 1) to residential with commercial on the first floor.

This decision paves the way for a potential large-scale redevelopment, making it a prime opportunity for property developers.

This transaction marks one of the largest collective sales in Singapore in recent years.

Situated in a strategic location next to Havelock MRT station, the site is highly attractive to developers who are looking for premium land in a city-fringe location with excellent transport links and growth potential.

Key Details of the Collective Sale

The en bloc site is currently listed for sale at $1.15 billion, with an additional estimated land betterment charge ranging from $830 million to $840 million.

This results in an estimated land rate of $1,888 per square foot per plot ratio (psf ppr), making it a lucrative but significant investment for developers.

Spanning a total land area of 175,655 square feet, the freehold site currently has a plot ratio of 3.1, with the potential to increase to 4.9 under URA’s rezoning approval.

This could lead to a substantial 50% uplift in the gross floor area, making it an attractive proposition for developers looking to maximize the land’s potential.

Potential Rezoning & Development Opportunities

URA has issued an outline planning approval supporting the conversion of the site into a residential development with commercial use on the ground floor.

This transition aligns with the evolving urban landscape and the demand for mixed-use developments in Singapore.

Developers can amalgamate adjacent state land to create an even larger integrated project.

The site allows for the construction of a landmark skyscraper, with building heights permitted from 130m to 180m Singapore Height Datum (SHD).

Additionally, at least 15,000 square meters must be allocated for long-term serviced apartments, while 1,500 square meters of commercial space will be allowed on the first storey, providing space for retail or dining establishments.

Strategic Location & Connectivity

Situated on Outram Road, Tan Boon Liat Building sits in one of the most desirable city-fringe locations in Singapore, making it a hotspot for developers seeking prime real estate.

The location is well connected, being adjacent to Havelock MRT Station on the Thomson-East Coast Line and within close proximity to Outram Park MRT, which serves as an interchange connecting the East-West, North-East, and Thomson-East Coast Lines.

The enbloc site is also near the Central Business District (CBD) and Orchard Road, two key commercial and lifestyle hubs in Singapore.

Additionally, it is surrounded by trendy lifestyle destinations, popular F&B establishments, and medical facilities such as Singapore General Hospital (SGH), making it an attractive place for future residents.

Market Implications & Developer Interest

One of the key advantages for developers is that there will be no Additional Buyer’s Stamp Duty (ABSD) applicable due to the site’s current Business 1 zoning.

This makes the purchase more financially viable compared to other residential land acquisitions.

Given the strong demand for high-end residential properties in well-connected city fringe areas, this site offers a rare opportunity to build a freehold, high-density residential and commercial project.

The Outram district is undergoing rapid urban transformation, leading to potential appreciation in property values.

A new development on this site is expected to attract strong demand from investors and homeowners.

Major property developers are expected to compete for the site, given its strategic location and redevelopment potential.

The final bid price and developer interest will determine the scale and design of the new project.

According to Christina Sim, Senior Director of Capital Markets at Cushman & Wakefield, city-fringe residential properties remain in high demand, particularly freehold developments. She emphasized that the site’s excellent MRT connectivity further enhances its appeal for both developers and homebuyers.

Real estate analysts predict that the site can accommodate a significant number of residential units.

The launch price for the new development is expected to be competitive with other luxury residences in the area, reinforcing its investment potential.

The tender for the collective sale of Tan Boon Liat Building closes on March 18 at 3 PM.

Tan Boon Liat Building En Bloc All Details
  • Status: For Sale

  • Tenure: Freehold

  • Land Size: 175,655 sq ft

  • Gross Plot Ratio: 3.1 (Potential increase to 4.9)

  • Address: 315, Outram Road Singapore

  • Nearby MRTs: Havelock & Outram Park

  • District: 3

  • Marketing Agent: Cushman & Wakefield

  • Reserve Price: $1.15 billion

  • Tender Close: March 18 at 3 pm