The 18-storey freehold mixed-use development sits on a 21,602 sq ft site and is located 600m from Somerset MRT station. Source: Google Maps
30 Bideford Road, a freehold luxury mixed-use development along the Orchard shopping belt, has been put up for sale with an indicative price of $600 million, revealed joint marketing agents Colliers and Knight Frank.
The 18-storey development – which received its Temporary Occupation Permit (TOP) in early 2020 – comprises 168 serviced residential units as well as 54,512 sq ft of office, retail and medical space spanning five storeys.
“This is a rare and attractive investment proposition for investors looking for a brand-new freehold trophy asset located in prime District 9,” said Knight Frank Singapore’s Head of Capital Markets Daniel Ding.
“The opportunity may be suitable for hospitality operators who seek a flagship hospitality asset, or investors looking to acquire a generational asset.”
Located at 28 and 30 Bideford Road, the property sits on a 21,602 sq ft site that is zoned for Commercial and Residential use under the 2019 Master Plan with a gross plot ratio of 4.9.
It enjoys easy access to various modes of transportation, with the Somerset MRT station just 600 m away. It is also near other high-end residential developments, offices, hotels and shopping malls, including Ngee Ann City, The Paragon and Mandarin Gallery.
“Subject to the termination of existing leases at the property, the property will be sold with vacant possession on an “as is, where is” basis, offering investors different options to maximise its potential,” said Wei Leng Tang, Managing Director at Colliers Singapore.
The joint tender for 30 Bideford Road closes on 15 February 2022.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: [email protected].