{"id":78645,"date":"2018-02-01T09:23:56","date_gmt":"2018-02-01T02:23:56","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinatown-plaza-joins-en-bloc-frenzy-owners-asking-for-270m\/"},"modified":"2018-02-01T10:02:51","modified_gmt":"2018-02-01T03:02:51","slug":"chinatown-plaza-joins-en-bloc-frenzy-owners-asking-for-270m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinatown-plaza-joins-en-bloc-frenzy-owners-asking-for-270m\/","title":{"rendered":"Chinatown Plaza joins en bloc frenzy, owners asking for $270m"},"content":{"rendered":"


\nThe freehold site near Keong Saik Street is intended for residential and commercial development. (Photo: Edmund Tie & Co)
\nThe owners of Chinatown Plaza near the Central Business District launched the mixed-use project for collective sale for $270 million on Wednesday (31 January), reported the Business Times.
\nAccording to marketing agent Edmund Tie & Co, the asking price translates to $1,989 psf per plot ratio (ppr) based on its gross floor area (GFA). The prime property stands on freehold land spanning 33,953 sq ft that is intended for residential and commercial development.
\n\u201cSubject to authorities\u2019 approval, the site can be redeveloped up to its existing GFA of approximately 135,742 sq ft, exceeding the permissible plot ratio of 3.5 as indicated in the 2014 Master Plan,\u201d said the property firm, adding that the winning bidder does not need to pay any development charge.
\nLocated at the junction of Neil Road and Craig Road, the land parcel is close to the bustling Keong Saik Street area that has seen many new restaurants, boutique hotels and co-working spaces.
\n\u201cThe developer-investor can pre-sell the residential units to capitalise on the upturn of the private residential market and hold the invaluable freehold commercial space for investment or as their corporate office,\u201d said Edmund Tie & Co\u2019s senior director for investment advisory Swee Shou Fern.
\n\u201cGiven its city centre location in a popular and vibrant enclave with proximity to MRT stations, the property is also ideal as a serviced apartments or hotel development, subject to planning approval,\u201d she added.
\nThe tender for Chinatown Plaza will close on 15 March.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Chinatown Plaza joins en bloc frenzy, owners asking for 0m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The freehold site near Keong Saik Street is intended for residential and commercial development. (Photo:...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-78645","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-kst","jetpack-related-posts":[{"id":88823,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinatown-plaza-sold-en-bloc-for-260-million\/","url_meta":{"origin":78645,"position":0},"title":"Chinatown Plaza sold en bloc for $260 million","date":"May 21, 2018","format":false,"excerpt":"\r The purchase price is lower than the $270 million asking price, and works out to a land rate of $1,915 psf per plot ratio. (Photo: ET&Co) Chinatown Plaza along Craig Road in District 2 has been sold for $260 million to a property unit affiliated with Singapore-based Royal Golden\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68554,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tai-wah-building-for-sale-at-81-million\/","url_meta":{"origin":78645,"position":1},"title":"Tai Wah Building for sale at $81 million","date":"October 9, 2017","format":false,"excerpt":"\r Built in the 1980s, Tai Wah Building comprises six apartments and two shops. (Photo: Edmund Tie & Company) The freehold Tai Wah Building at Killiney Road has been launched for collective sale after obtaining consent from all the owners, marketing agent Edmund Tie & Co. said on Monday (9\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":78645,"position":2},"title":"2 projects sold en bloc for over $658mil","date":"December 4, 2017","format":false,"excerpt":"\r Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co) Marketing agent Edmund Tie & Co announced on Friday (1 December) that it successfully sold two existing developments via collective sale for a total of $658.59 million. In particular, Royalville in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":120557,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/freehold-property-at-robin-drive-sold-for-17mil\/","url_meta":{"origin":78645,"position":3},"title":"Freehold property at Robin Drive sold for $17mil","date":"July 6, 2021","format":false,"excerpt":"\r Freehold property at Robin Drive sold for $17milLocated near the Steven MRT Interchange, the regular shaped site has an area of 951.8 sq m (10,245 sq ft) and is zoned for \u2018Residential\u2019 use under the 2019 Master Plan with a plot ratio of 1.4. Photo: Edmund Tie A freehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/6A-Robin-Drive_001-crop.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":119946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-up-for-collective-sale\/","url_meta":{"origin":78645,"position":4},"title":"Adjoining sites at Bukit Timah, Duke's Road up for collective sale","date":"January 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road up for collective saleWith an area of 16,479 sq ft, the freehold site is zoned for residential and commercial use under the\u00a02019 Master Plan. Image: Google Street View Three adjoining mixed-use redevelopment sites located at 551 to 553 Bukit Timah Road and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":122183,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-residential-sites-at-thiam-siew-avenue-up-for-sale\/","url_meta":{"origin":78645,"position":5},"title":"Two freehold residential sites at Thiam Siew Avenue up for sale","date":"September 24, 2021","format":false,"excerpt":"\r Two freehold residential sites at Thiam Siew Avenue up for saleIncluding balcony space, the North plot has a GFA of 405,536 sq ft and an estimated development charge of $20.2 million, while the 384,791 sq ft South plot has a development charge of\u00a0$19.1 million. 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