- POSTED: 22 Jan 2014 21:48
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Prime commercial development, The Arcade, is being put up for tender at a guide price of S$900 million.
SINGAPORE: Prime commercial development, The Arcade, is being put up for tender at a guide price of S$900 million.
The 20-storey building located at Collyer Quay, which is partly owned by City Developments, has a maximum allowable gross floor area of some 303,000 square feet, and total existing strata area of some 157,000 square feet.
Under the 2008 Master Plan, the site is zoned for "commercial" use with an allowable plot ratio of 13.86, and a building height of up to 50 storeys.
Based on recent transactions around the area, office space at the 999-year leasehold development is expected to be priced at above S$3,500 per square foot, and retail space at above S$12,000 per square foot.
The tender closes on March 19.