COMMERCIAL PROPERTY | Staff Reporter, Singapore

Two mixed-use properties' en bloc sales launched this week

Jalan Besar Plaza will be sold for $390m, whilst Tai Wah Building is priced $81m.

Two en bloc sales for mixed properties have been launched in Singapore this week.

The first property, Jalan Besar Plaza, is up for sale for $390m or $2,170 psf.

It is a freehold commercial with residential property with a gross floor area of 179,697 sqft and a size of 53,043 sqft.

It holds a 16-storey building with a 3-storey commercial podium with 44 residential apartments and 111 commercial units.

Its marketing agent, Huttons Asia, said, "Developers can capitalise on the booming serviced residence industry by leveraging Jalan Besar’s prime location. Its proximity to major educational institutes such as Singapore Management University (SMU), LASALLE College of the Arts, Nanyang Academy of Fine Arts, as well as the Central Business District (CBD) is invaluable."

Meanwhile, Tai Wah Building, is up for sale for an asking price of $81m or $2,035 psf.

Tai Wah Building It is a freehold residential with commercial site that has a land area of 13,148 sqft. and a gross floor area of 39,809 sqft.

Tai Wah is located near the Orchard Road shopping belt and is 250 meters away from the Somerset MRT station.

Edmund Tie & Company senior director of investment advisory Swee Shou Fern said, "Freehold mixed-use sites at Orchard Road within prime District 9 is hard to come. Properties with these attributes on Killiney Road are tightly held and rarely traded. Tai Wah Building can be redeveloped into a boutique residential development with valuable commercial space on street level enjoying prominent visibility onto Killiney Road."

The public tender for the property will close on 15 November 2017 at 3 p.m. 

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