Jalan Besar Plaza site up for en bloc sale

JALAN Besar Plaza, located in Singapore’s central region under the Kallang Planning Area, has been put up for collective sale, appointed property consultants Huttons Asia said on Monday.

The 4,927.8-square metre (53,043-square foot) freehold site – with a plot ratio of 3.0 – is expected to fetch an estimated sale price of S$390 million. This will translate to about S$2,451 per square foot for the 35-year-old commercial and residential building.

Including development charge of S$7.63 million, the price will translate to about S$2,499 psf for the site, which currently houses a 16-storey building inclusive of a three-storey commercial podium, 44 residential apartments and 111 commercial units.

The tender closes on Jan 21, 2016.