FREEHOLD Katong Shopping Centre is once again up for collective sale at its original reserve price of S$638 million, following an unsuccessful en bloc bid in May. This marks the fourth attempt by the owners to sell the property. Initially listed for sale in 2016 and 2017 at S$630 million, the current reserve price of S$638 million translates to a land rate of S$2,277 per square foot per plot ratio (psf ppr) over its existing gross floor area (GFA), as stated by marketing agent Edmund Tie & Company (Edmund Tie).
Situated in District 15, this shopping centre is strategically positioned on a corner land plot covering 86,924 square feet (sq ft) and enjoys dual road frontage along Mountbatten Road and Haig Road. The site’s gross plot ratio (GPR) of 3.223 allows for a total GFA of approximately 280,000 sq ft.
Comprising a seven-storey podium block and a five-storey annex block, the mixed-use development houses a total of 425 strata shop and office units, along with a privately-held carpark situated on levels 3 and 4.
According to the Master Plan 2019, Katong Shopping Centre falls under the commercial and residential use category with a GPR of 3.0. This presents a unique investment opportunity for potential buyers to capitalize on the property’s prime location and development potential.