Beauty World Plaza relaunches tender at $165m

It got an in-principle approval to convert the residential component to serviced apartments.

Beauty World Plaza, a mixed-use development located along Upper Bukit Timah Road, has been launched via tender for a reserve price of $165m, marketing agent Knight Frank Singapore revealed.

Also read: Beauty World Plaza for sale by tender at $165m

Beauty World Plaza has a site area of 2,305.6 sqm (24,817 sqft) and sits next to the Beauty World MRT station, with full sheltered access to its entrance. Supermarkets, eateries, established schools, as well as a wet market, are located close to the vicinity.

The site is served by major arterial roads and expressways such as the Pan-Island Expressway, Bukit Timah Road, Dunearn Road, Clementi Road and Ayer-Rajah Expressway. Under the 2014 Master Plan, the site is zoned “Commercial & Residential”.

With no development charge payable for redevelopment to the maximum permissible gross floor area of 7,001.38 sqm, the land rate works out to $2,189 psf ppr. The Urban Redevelopment Authority (URA) has also provided an in-principle approval for the redevelopment of the residential component to serviced apartments.

Dr Kam Hwee Beng, chairman of the Sale Committee of Beauty World Plaza adds, “URA has been studying the planning perimeters of the Beauty World area and have provided an initial in-principle approval to our Outline Application of the proposed land use for commercial and serviced apartments. URA has committed to provide a formal reply to our Outline Application by the end of June 2019.”

The tender for Beauty World Plaza will close on 17 July 2019, Wednesday at 3 p.m.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.