Photo by PropNex

Commercial site in Hoe Chiang, Lim Teck Kim roads up for sale for $216m

Buyers could use the 18,540-square-foot site for commercial or hotel development.

A 999-year leasehold commercial site centrally located at Hoe Chiang Road and Lim Teck Kim Road is up for a collective sale for a reserve price of $216m.

The estimated land rate is $2,610 per square foot (psf) per plot ratio.

The price is already inclusive of a $55m land betterment charge (LBC).

The 18,540-square-foot site has two rows of commercial buildings and a piece of remnant land between them. 

The Urban Redevelopment Authority, under its Master Plan 2019, zoned the site for commercial use and has a gross plot ratio of 5.6.

READ MORE: Higher ABSD rate hits foreign demand in ‘The Continuum’ sale

PropNex Realty said buyers could also redevelop the site as a hotel development, putting the land rate at $2,671 psf per plot ratio with a $61.3m estimated LBC.

The collective sale tender would close on 31 May at 2PM.

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!