Shenton House launches $590 mil collective sale tender

According to an announcement from JLL, the single advertising broker, the commercial property’s unit land price is based on the areas’ commercial zoning with a 40% non commercial gross floor area (GFA), and also this mirrors around $2,035 psf per plot ratio (ppr) at a gross plot ratio of 14.0.

This unit land rate features the assessed $446 million price of the land enhancement charge and a lease top-up premium to a new 99-year land period. Moreover, if an extra 7% incentive terrace GFA for the non commercial factor is consisted of, the unit land price will certainly be roughly $2,012 psf ppr.

Shenton House, a business establishment at Shenton Way in the CBD, has recently released a cumulative sale tender with a reservation rate of $590 million.

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“We’re confident in Singapore’s capacity to set up high quality CBD assets amidst climbing need from both the investors plus owner-occupiers who are looking into getting a stake in the medium- to extended opportunities of the country,” says Tan.

Neighbouring commercial buildings involve Asia Square Towers 1 & 2, UIC Building, OUE Downtown, and even SGX Centre. The upcoming IOI Central Boulevard Towers, Marina One mixed-use property development, Capital Tower, also integrated building Guoco Tower are too around.

Shenton House is on a 36,350 sq ft, rectangular-shaped site that flaunts three-way roadway frontages on Shenton Way, Park Street, and Shenton Land. The 99-year leasehold property presently contains 203 commercial units also a carpark.

” The area is ideally located in the prime District 1, a reputable area for Grade-A business offices that interest big firms,” states Tan Hong Boon, managing supervisor of investment markets at JLL. “Property developers can capitalise on the raising need for residences in mixed-use projects as well as offer luxury houses with ground-floor retail and F&B to complement the office existence.”

MRT stations near to the place are Shenton Way on the Thomson-East Coast Line, Marina Bay Interchange on the North-South and Circle Lines, Downtown on the Downtown Line, plus Tanjong Pagar on the East-West Lane.

Within the CBD Incentive Scheme introduced in 2019, the place is qualified for a 25% incentive GFA and can possibly be redeveloped toward a mixed-use or hotel project, at a gross plot ratio of 14.0.

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