News

Commercial Property

Staff Reporter

, Singapore

Published:

2 years ago

186 views

photo from Savills Singapore

Commercial redevelopment site on Orchard Road for sale for $438m

The public tender closes on Monday, 27 May 2024, at 3 pm.

A commercial redevelopment site on 402 Orchard Road is up for sale via public tender with a guide price of $438m, according to Savills Singapore.

In a statement, Savills said the guide price for the property, Delfi Orchard, is equal to around $3,397 per plot ratio assuming full commercial, and includes a land betterment charge of $7.63m.

Delfie Orchard is zoned as “commercial” and has a development baseline of 131,186 sq. ft, verified by the Singapore Land Authority.

ALSO READ: Property prospects mixed amidst rising supply

In addition, the property is situated on a freehold site totalling 20,264 sq. ft with a height control of up to 20 storeys.

Interested buyers may apply under the Urban Redevelopment Authority’s (URA) Strategic Development Incentive (SDI) scheme, whilst there are no restrictions on foreign ownership.

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