Mixed-development Jalan Besar Plaza has been put up for en bloc sale for an estimated price of S$390 million, property agency Huttons announced Monday (23 November).
This price translates to S$2,451 per sq ft per plot ratio based on the freehold property’s 53,043 sq ft site area. The 35-year-old development, which currently houses a 16-storey building inclusive of a three-storey commercial podium, sits on a site zoned for Commercial and Residential uses under the 2014 Master Plan and has a plot ratio of 3.0.
According to media reports, the real estate agency recommended that the building be changed into a “full-fledged commercial integrated with offices/medical suites/complementary and alternative medical services”, subject to approval from relevant authorities.
The tender exercise for the property will close 21 January 2016.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg
