Golden Wall Centre up for collective sale at $260m

It could be transformed into a mid-sized hotel development.

Golden Wall Centre in Short Street is up for en bloc sale at $260m, Edmund Tie & Company (ET&Co) revealed. The freehold commercial property has a land area of approximately 2,251.9 sqm.

Reflecting a land rate of $2,194 psf ppr, the property has an existing gross floor area of 11,007.93 sqm. The Urban Redevelopment Authority (URA) advised that hotel use at Gross Plot Ratio 4.88 can be allowed, subject to compliance of conditions and requirements.

The property enjoys accessibility to the Rochor MRT station on the Downtown Line and can be found within 400 metres to Little India MRT interchange, connecting the Downtown and North East Lines. The site occupies a prominent corner plot with a 180-metre triple frontage boasting high visibility along the main thoroughfare of Rochor Canal Road, as well as Short Street and Albert Street.

Located within the Beach Road/Ophir-Rochor Corridor, Golden Wall Centre has the potential to benefit from the on-going rejuvenation and transformation in the area, ET&Co said.

“Such transformations can be exemplified with new developments such as DUO and Tekka Place – a retail mall with 320 serviced residences directly opposite the property,” the firm explained. “With its strategic city fringe location and proximity to the arts, heritage and cultural districts, the property is also ideal for a mid-sized hotel development.”

The tender exercise for Golden Wall Centre will close on 23 November at 3 pm.

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!

Thanks to the renewal of interest in the Singapore market.
The electronics cluster showed the most optimism.
The initiative aims to improve the overseas service exports environment.
This is the group’s 2nd sustainability notes issuance in the SGD bond market.
A Jefferies report said Singapore banks have enough buffers.
HongkongLand, CapitaLandInvest, and ComfortDelGro showed the most growth.
Mizuho Securities Asia Limited will be the notes dealer.
The company’s first batch has been fully allocated in the country.
The total consideration of up to $539m over three years will take effect. 
This is to address the increased global demand for healthcare products.
Thanks to the company's improved distribution channels.
Hiring activities online increased by 55.7% in August.
CapitaLandInvest, Capland IntCom T, and Sembcorp Industries showed the most growth.
This low turnout is due to the large quantum of the project, experts say.