{"id":88231,"date":"2018-05-15T10:41:57","date_gmt":"2018-05-15T03:41:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldhill-shopping-centre-in-novena-on-sale-for-425m\/"},"modified":"2018-05-15T11:03:02","modified_gmt":"2018-05-15T04:03:02","slug":"goldhill-shopping-centre-in-novena-on-sale-for-425m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldhill-shopping-centre-in-novena-on-sale-for-425m\/","title":{"rendered":"Goldhill Shopping Centre in Novena on sale for $425m"},"content":{"rendered":"


\nThe asking price works out to a land rate of about $2,597 psf per plot ratio. (Photo: Cushman & Wakefield)
\nGoldhill Shopping Centre in Novena has been put up for en bloc sale with a reserve price of $425 million \u2013 making it this year\u2019s first full commercial collective sale site, revealed Cushman & Wakefield, the marketing agent handling the tender exercise.
\nTaking into account the $61.2 million development charge, the land rate for the site works out to about $2,597 psf per plot ratio.
\nMore: Property Investment Sales To Hit $46 Billion In 2018
\nThe mall, one of the oldest in Singapore, was built in 1969 by Malaysian developer Goldhill Group and was popular among wealthy shoppers at the time.
\nWith a site area of approximately 62,422 sq ft, the existing development comprises three blocks of walk-up commercial units, with the ground floor units predominantly used as retail shops, noted Cushman & Wakefield.
\nThe freehold site is zoned for commercial use under the 2014 Master Plan with a plot ratio of 3.0, which translates to a maximum gross floor area of about 187,266 sq ft. A building height limit of 117m is also imposed on the site.
\nLocated near Novena MRT station, Goldhill Shopping Centre is also close to various amenities such as Novena Square, United Square, Mount Elizabeth Novena and Tan Tock Seng Hospital.
\nAs such, the site offers developers an opportunity to create a landmark commercial development in an established location, said Cushman & Wakefield capital markets director Christina Sim.
\n\u201cWith the impending North-South Expressway in the pipeline, there may also be a possibility of a direct connection to Novena MRT station through the basement, subject to planning approval,\u201d she added.
\nThe tender for Goldhill Shopping Centre closes on 27 June.
\nFor the latest property news, trends, resources and expert opinions, visit our\u00a0Property News\u00a0page. Home buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Goldhill Shopping Centre in Novena on sale for 5m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The asking price works out to a land rate of about $2,597 psf per plot...<\/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-88231","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-mX5","jetpack-related-posts":[{"id":69988,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-fever-spreads-to-commercial-properties\/","url_meta":{"origin":88231,"position":0},"title":"En bloc fever spreads to commercial properties","date":"October 25, 2017","format":false,"excerpt":"\r View of Singapore skyline. (Photo: Wikimedia Commons) More commercial and mixed-use projects are joining the en bloc sales frenzy after a number of residential developments have successfully changed hands, reported the Business Times. For instance, three integrated developments have been launched for collective sale. Owners of the freehold Tai\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88411,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fernhill-court-up-for-sale-at-reserve-price-of-125m\/","url_meta":{"origin":88231,"position":1},"title":"Fernhill Court up for sale at reserve price of $125m","date":"May 16, 2018","format":false,"excerpt":"\r The reserve price works out to a land rate of $1,885 psf ppr, after factoring in a development charge of $3.7 million. (Photo: Colliers International) Fernhill Court, a prime freehold development located next to the Nassim Road, Dalvey Road and White House Park Good Class Bungalow (GCB) areas in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88572,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jurongs-big-box-building-put-up-for-sale\/","url_meta":{"origin":88231,"position":2},"title":"Jurong\u2019s Big Box building put up for sale","date":"May 17, 2018","format":false,"excerpt":"\r Aerial view of the Big Box warehouse retail mall in Jurong East. (Photo: Cushman & Wakefield) The Big Box warehouse retail mall in Jurong East has been put up for sale via expression of interest (EOI) by the owner\u2019s receivers and managers with no guide price given, revealed marketing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123179,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sixth-avenue-centre-up-for-collective-sale-for-85mil\/","url_meta":{"origin":88231,"position":3},"title":"Sixth Avenue Centre up for collective sale for $85mil","date":"November 12, 2021","format":false,"excerpt":"\r Located at 805 Bukit Timah Road, Sixth Avenue Centre sits on a 15,009 sq ft land plot. Source: Google Maps Sixth Avenue Centre, a 40-year-old mixed-development at 805 Bukit Timah Road, has been put up for collective sale carrying a reserve price of $85 million, revealed exclusive marketing agent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/sixth-avenue-centre.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":78643,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-park-towers-launched-for-collective-sale\/","url_meta":{"origin":88231,"position":4},"title":"Katong Park Towers launched for collective sale","date":"February 1, 2018","format":false,"excerpt":"\r Located close to a future MRT station, the property has a reserve price of $288 million. (Photo: Cushman & Wakefield) Offering a compelling opportunity for the development of an exclusive condominium within an affluent neighbourhood in Katong, Katong Park Towers has been put up for en bloc sale carrying\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/katong-park-towers-sold-to-bukit-sembawang-for-345-million\/","url_meta":{"origin":88231,"position":5},"title":"Katong Park Towers sold to Bukit Sembawang for $345 million","date":"March 16, 2018","format":false,"excerpt":"\r The sale price is about 20 percent above the reserve price of $288 million. (Photo: Cushman & Wakefield) Katong Park Towers in District 15 has been sold to a subsidiary of Bukit Sembawang Estates for $345 million, about 20 percent above the reserve price of $288 million, said Cushman\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/88231"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=88231"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/88231\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=88231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=88231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=88231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}