High Street Centre at No. 1 North Bridge Road is up for sale by Cushman and Wakefield via a second public tender after obtaining a six-month extension under the COVID-19.(Temporary Measures for Conduct of Collective Sale of Property) Order 2020 granted by the Ministry of Law. Cushman & Wakefield, the appointed property consultants for the collective sale, has confirmed that Owners holding not less than 80 per cent by strata area and share values have agreed to put the property to market at the current mandated reserve price of $800 million, while concurrently working to obtain consensus for the lower reserve price of $700 million.

One North Bridge Road is a landmark commercial site boasting three-sided frontages towards Hill Street, North Boat Quay and North Bridge Road. It has a waterfront promenade of more than 100 metres towards the Singapore River and has spectacular 360-degree views of Marina Bay, Raffles Place, Fort Canning and Beach Road.

With a site area of 5,601.9 sq m (60,299 sq ft) and an allowable gross plot ratio of 7.72, the total gross floor area amounts to a significant 43,300.72 sq m (466,085 sq ft).

According to Cushman & Wakefield, the URA will support a development of at least 60 per cent of total gross floor area (GFA) for commercial use, which may comprise a mix of office, retail (including F&B) and 40 per cent for hotel, serviced apartments or residential use.

Ms Christina Sim, Director of Capital Markets at Cushman & Wakefield said, “High Street Centre will be a trophy asset for any developer who wants to put its mark on Asia’s leading city. This is an opportunity to create a stellar skyscraper befitting its distinguished neighbours and legacy. Further, with the scarcity of commercial sites available for development in the central business district today and the expected tight supply of commercial space up till 2025, One North Bridge Road represents an even more compelling opportunity for developers who want to secure an asset that has the promise of growth.”

The tender for One North Bridge Road must close on Thursday, 17 June 2021 at 3.00pm.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.