Tanglin Shopping Center up for sale
Savills Singapore will serve as the marketing agent for the sale.
Savills Singapore revealed the launch of Tanglin Shopping Center for sale by public tender.
A 12-story commercial complex makes up the property, with 2 basement levels and an annex eight-storey carpark. Retail and office units are located in Basement 2 to the 6th level of the podium block, whilst the 7th to 12th levels are mainly comprised of office units.
Overall, 364 units can be located in the development.
The 68.512 square feet (sq. ft.) site falls under the “Commercial” zone, with an allowable gross plot ratio of 4.2 under the 2019 Master Plan, as well as a height control of up to 20 storeys. The property also has a gross floor area of around 313,435 sq. ft.
Tanglin Shopping Center is also located near Tanglin Road and Cuscaden Road. A view overlooking Nassim Road takes up the environment, as well.
Also making up the environment are the Orchard Boulevard and Orchard MRT stations, as well as Orchard Road, medical establishments, such as Camden Medical Center and Gleneagles Hospital, and Singapore Botanic Gardens.
“Currently the only commercial site available in Orchard, Tanglin Shopping Centre is a compelling opportunity for multiple development options comprising predominantly commercial uses but also including the possibility of the hotel and residential. The Commercial zoning means there is no Additional Buyers’ Stamp Duty payable by the successful bidder,” said Jeremy Lake, Managing Director, Investment Sales & Capital Markets.