,Singapore

Realty Centre in Tanjong Pagar up for en bloc at $165m

The freehold site has a land area of approximately 11,00 sqft and a maximum height of 35 storeys.

The Realty Centre which is an office building located at 15 Enggor Street within the Central Business District (CBD) has been put up for collective sale at $165m, an announcement by Cushman & Wakefield revealed.

The freehold site has a land area of around 11,000 sqft and is zoned for commercial use under the Urban Redevelopment’s (URA) 2014 Masterplan. It also has an allowable gross plot ratio of 5.6 and a maximum storey height of 35.

The property is located in close proximity to the Tanjong Pagar MRT station and the upcoming Prince Edward MRT Station on the Circle Line which is due to be completed by 2025. Likewise, it is in the vicinity of the Amara Hotel and Tanjong Pagar Centre.

According to Cushman & Wakefield, the plot has a verified gross floor area of approximately 59,355 sq ft which is equivalent to a plot ratio of about 5.4 times.

The land rate for the site comes to roughly $2,714 psf per plot ratio, inclusive of an estimated development charge amount of around $2.2m, Cushman & Wakefield revealed.

“This offering gives the potential developer a compelling opportunity to have a presence in our CBD,” Cushman & Wakefield’s director of capital markets Christina Sim said in a statement. “The site is also within the Tanjong Pagar Master Plan, a location slated for a massive transformation.”

The tender for Realty Centre will close on 21 February 2019 at 3 p.m. 

Photo from Google Street View.

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!

Jalan Tembusu, meanwhile, saw a strong performance due to the opportunity present in the area.
Users can now link accounts from Bank of China, DBS, Maybank, OCBC, StanChart, and UOB.
The new deal also extends SIAEC’s existing on-wing care services with Rolls-Royce.
Prime office rents rose 1.5% QoQ in the fourth quarter of 2021.
Completion of the acquisitions is expected to take place from H2 2022 to Q1 2024.
The Jalan Tembusu site hit a new record land rate of $1,302 psf ppr.
'Long COVID' is experienced by people who have symptoms that drag for a month.
This is according to interest rate forecasts from OCBC. 
Seven in 10 Singaporeans are looking to switch jobs in 2022.
DairyFarm had the most growth.
A continued expansion of the VTL program strengthened this performance. 
The resumption of data centre development came with new conditions.
The digital platform will use the fund to strengthen haulage capacities.
This is part of its continued support for the vaccination and booster drive.