The expected price translates to $1,969 per square foot per plot ratio.
Freehold Katong Plaza is set to be launched for collective sale on June 7, with a $188m expected price or $1,969 per square foot per plot ratio, according to sole marketing agent Huttons Asia.
The mixed commercial and residential development has a land area of 34,044 sq ft with a gross plot ratio of 3.0, and can yield a possible 102,133 sq ft of gross floor area after redevelopment, Huttons Asia's head of investment sales Terence Lian said.
It is located 120 metres away from the future Marine Parade MRT station, and is in the vicinity of a number of schools including Tao Nan School, Haig's Girls' School, CHIJ (Katong) Primary and Tanjong Katong Primary School.
"Katong Plaza is strategically nestled within an established F&B (food and beverage) and retail belt in the heart of Katong. We see a huge potential for the site to be transformed as the successful developer could introduce lifestyle cafes and eateries along the plot's existing 150 m frontage along Brooke Road," said Huttons Asia's deputy head of investment sales Angela Lim.
The public tender for Katong Plaza closes at 2pm on July 16.
Photo from Huttons Asia
Do you know more about this story? Contact us anonymously through this link.