Ming Arcade is up for sale via public tender
The freehold commercial site is located 50 meters away from Orchard Road.
The seven-storey commercial complex at 21 Cuscaden Road, Ming Arcade, has been put up for sale via public tender which will close on 15 December at 3 pm.
The freehold commercial site’s marketing agent, Savills, expects the property to sell for more than $140m or $2,542 per square foot per plot ratio.
Ming Arcade sits at a regular freehold plot zoned “Commercial” and measures 1,127.1 sq m / 12,132 sq ft.
The commercial complex has 88 units and an existing verified development baseline of 5,113.9 sq m / 55,046 sq ft, equivalent to a plot ratio of 4.54. It also houses the first theatre-disco lounge and music venue in Singapore, Rainbow Lounge.
Apart from being 50 meters away from Orchard Road, the property is also surrounded by luxury hotels and residential developments, such as the upcoming Artyzen Hotel, The Edition Hotel, Boulevard 88, Four Seasons Hotel and Four Seasons Park and St. Regis Hotel & Residences.
“Being a freehold commercial site, Ming Arcade is truly a unique opportunity for local and international developers. The buyer will have the flexibility and ability to curate an iconic mixed-use development in the most prime street in Singapore.” Savills Managing Director for Investment Sales & Capital Markets, Jeremy Lake, said.