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Press photo (JLL)

Roxy Square relaunched for collective sale at $1.115b

This is a 10.8% reduction from its previous asking price of $1.25b.

Roxy Square, a freehold mixed-use development in Katong, has been relaunched for collective sale at a revised price of $1.115b. This represents a 10.8% reduction from its previous asking price of $1.25b.

According to JLL, the property’s sole marketing agent, the reduction translates to a unit land rate of $1,852 per square foot per plot ratio (psf/pr), inclusive of the land betterment charge.

Accounting for an additional 10% bonus gross floor area for residential components, the rate could decrease further to $1,804 psf/pr. At least 80% of owners' consent is required for the new price to take effect.

The site, which comprises 296 shops, 26 apartments, and the 576-room Grand Mercure Roxy Hotel, offers a rare redevelopment opportunity in Singapore’s sought-after East Coast district.

“The proposed reduction in reserve price, if supported by the majority owners, enhances the site's appeal, especially considering the area's consistent demand for quality residences,” said Tan Hong Boon, executive director of Capital Markets at JLL Singapore. “This sale will aim to thoughtfully shape a key part of Singapore's East Coast for the future.”

Roxy Square occupies a prominent site with triple road frontages along East Coast Road, Marine Parade Road, and Brooke Road. It is zoned "Commercial & Residential" under the 2019 Master Plan, with a gross plot ratio of 3.86.

The site spans a gross floor area (GFA) of 668,000 square feet, allowing for a high-rise mixed-use development up to 75 meters Singapore Height Datum.

Developers can explore the potential to build over 350 residential units, approximately 80,000 square feet of retail and F&B space, and 172,000 square feet of office, hotel, or commercial facilities. The location also boasts scenic south-facing sea views and unobstructed vistas of the surrounding area.

The site is also directly connected to Marine Parade MRT Station via an underground link, part of the Thomson-East Coast Line, providing seamless access to key areas such as the Central Business District, Orchard Road, and Changi Airport. Nearby amenities include Parkway Parade, i12 Katong, Katong V, and top schools like Tao Nan School and CHIJ (Katong) Primary. The site is easily accessible via the East Coast Parkway (ECP) and Nicoll Highway.

The tender for Roxy Square closes on 18 February 2025 at 3:00 p.m.

 

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