Katong Shopping Centre relaunched for collective sale at unchanged price of $638 mil
; includes hotel landEdmund Tie has relaunched Katong Shopping Centre for collective sale by tender with an unchanged indicative price of $638 million. Located at 865 Mountbatten Road in District 15, the development occupies a corner land plot of 86,924 sq ft, with a combined dual frontage of around 210m along Mountbatten Road and Haig Road. The building has a total gross floor area (GFA) of about 280,000 sq ft, reflecting a gross plot ratio of 3.223.
Located in the popular and well-established East Coast vicinity, Katong Shopping Centre offers an attractive investment opportunity with its rare, sizeable site and coveted freehold tenure. The seven-storey podium block and a five-storey annexe block comprise 425 strata shop and office units, as well as a privately-held car park. With Master Plan 2019 zoning the property for “Commercial & Residential” use at a gross plot ratio 3.0, the site has potential to be redeveloped into an integrated development with up to 156 apartments, along with around 112,000 sq ft of retail GFA.
The development is located close to a number of new and upcoming developments, as well as within 500m from the Marine Parade MRT Station on the Thomson-East Coast Line which will be operational in 2024. Closeby educational institutions include Tao Nan School and CHIJ (Katong) Primary, both within 1km of Katong Shopping Centre, as well as Dunman High School, Chung Cheng High School, Victoria Junior College and Canadian International School.
Swee Shou Fern, Head of Investment Advisory at Edmund Tie, noted that the indicative price of $638 million works out to $2,277 psf per plot ratio, based on Katong Shopping Centre’s existing GFA. The Expression of Interest exercise for the development will close on August 14th at 3pm.
From the choice of amenities to an ideal location, Zion Road Condo provides everything for a comfortable living. Residents can conveniently access an array of retail outlets, eateries, hospitals, and recreational facilities. Additionally, its proximity to the city makes travel a breeze. With so much to offer, Zion Road Condo is the ideal home destination for those seeking luxury and convenience.
This opportunity to acquire Katong Shopping Centre is especially attractive considering its freehold tenure and potential for redevelopment. With an advantageous location near upcoming developments and numerous educational institutions, investors are able to tap into a wide range of possibilities for this prime site.