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.