Singapore, 7 April 2017 – Sime Darby Centre,
located at 896 Dunearn Road, has been sold via a hotly contested Private
CBRE was the exclusive marketing
agent which conducted the private tender on behalf of the vendors. The tender
closed on 5 April 2017.
connected to King Albert Park MRT Station on the Downtown Line, Sime Darby
Centre is a Freehold property that enjoys excellent connectivity and an
extremely prominent road frontage along Dunearn Road. The property is zoned
“Commercial” with plot ratio 1.8 on the Masterplan 2014.
The buyer is
a wholly owned unit of Tuan Sing Holdings Limited. The successful tender price
is $365 million, which works out to approximately $1,440 psf ppr. Based on a
site area of approximately 140,886 sq ft, the total achieveable plot ratio is
approximately 253,595 sq ft.
property is zoned Commercial, there is no Additional Buyers’ Stamp Duty
payable, and there is no time restriction with regards to the redevelopment of
the property should the buyer choose to do so. Further, the property can be
redeveloped into a Full Commercial or a Mixed-use development (subject to the
was excellent, evidenced by the strong turnout and more than 10 bids received. The property “ticked all the boxes” for many
developers at this time when sentiment is turning,” said Mr Jeremy Lake,
Executive Director, Capital Markets, CBRE.
years, many parties have constantly been seeking a prime suburban Freehold
Commercial property, and this (Sime Darby Centre) is the answer.” said Mr
Galven Tan, Director, Capital Markets, CBRE. “The result therefore reflected
the strong attributes and rarity of the offering.”
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
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