The owners of Pacific Mansion have put the River Valley condominium up for public tender with a reserve price of S$938 million or S$1,728 per square foot per plot ratio (psf ppr), said CBRE, their appointed property agent.

Video Source: CBRE Capital Markets via Youtube

According to the URA baseline record, no development charge is payable on the maximum allowable GFA, said the agency.

As Pacific Mansions is located in the Central Area, the "70sqm" rule does not apply in the calculation of the maximum number of dwelling units per development, CBRE added. This is a cap on the number of units, based on an average size of 70 sqm GFA for each, in non-landed private housing projects outside the Central Area.

Said Galven Tan, CBRE's director of capital markets: "We expect strong interest from developers as this is a rare opportunity to acquire a sprawling freehold site in the River Valley district. Pacific Mansion stands out with superior attributes including its freehold tenure, District 9 address, and being within a 7-minute walk to the main Orchard Road shopping belt.

"Both local and foreign developers will be keen to evaluate the site which offers the unique opportunity to design an iconic landmark development to add to the central Singapore skyline, next to the upcoming Great World MRT Station."

For property specifics and tender details phone Galvan Tan or Low Choo Sin from CBRE Singapore via the contact details below. 

Sources: BusinessTimes, Straits Times, CBRE

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