Expressions of interest are been sought for a development site spanning more than 3,600 square metres in Singapore's CBD.

The freehold site at No. 15, Hoe Chiang Road, known as the Property, has been approved for hospitality use with a gross floor area of approximately 23,084 square metres or an equivalent gross plot ratio of above 6.31, based on a Written Permission issued in November last year. 

Bounded on three sides by Hoe Chiang Road, Lim Teck Kim Road and Cantonment Road to the south of the CBD, across from the Tanjong Pagar Terminal container port, the Property is expected to provide future occupants panoramic sea views towards the Sentosa Island and the Southern Islands in the context of the upcoming Greater Southern Waterfront master plan, entailing waterfront live, work, play in an integrated development.

At a glance:

• JLL is seeking expressions of interest for a development site spanning more than 3,600 square metres in Singapore's CBD.
• Known as the Property, No. 15, Hoe Chiang Road has been approved for hospitality use with a gross floor area of approximately 23,084 square metres.
• The expression of interest exercise for No. 15 Hoe Chiang Road closes on Friday, 11th September 2020 at 2.30pm.

The site is situated in the centre of many established Grade A offices occupied by multi-national and international corporations, hotel establishments and F&B offerings along Shenton Way, Anson Road, Tanjong Pagar Road, Cantonment Road and the heritage clusters of conservation shophouses.

JLL has been appointed to market the Property, which is being price guided at $715 million.

Capital Markets Director Tan Hong Boon said the site would provide an incoming developer-investor with the first-mover opportunity to position itself for the capital value upside in the medium to long term.

“Given its highly coveted freehold tenure, prominent corner location and allowable height, No. 15 Hoe Chiang Road presents developers and investors with an opportunity to own a flagship building with excellent visibility and naming rights for their commercial or hospitality uses," he said.

"There is also the chance to develop a mixed-use project with Grade A offices and luxury residential units exploiting the prized scenic views that are sought after by well-heeled international residential investors who are prepared to pay good premiums for their sky abodes on the highest floors in the city.”

"In the locality of Anson, Hoe Chiang, Tanjong Pagar and Cantonment Roads, we are observing potential rapid changes with several redevelopment plans underway, all taking advantage of the CBD Incentive Scheme and set to turning the locale into a new focal point extending towards and integrating into the proposed Greater Southern Waterfront. No. 15 Hoe Chiang Road."

The Property is close to four MRT stations along the East-West and North East Lines and the proposed Thomson East-Coast Line.

The operational Tanjong Pagar Station is about 500 metres’ walk away and the Outram Park Interchange about 650 metres.

There is also proximity to a range of popular high-end residential developments such as The Wallich Residences, The Altez, V on Shenton, Icon Residences and Skysuites @ Anson.

The Property’s current non-residential zoning means that there is no Additional Buyer’s Stamp Duty payable and no foreign ownership restrictions.

The expression of interest exercise for No. 15 Hoe Chiang Road closes on Friday, 11th September 2020 at 2.30 p.m.

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