04 Apr '16, 5am

Ultra-prime Orchard site up for sale

The rare plot could be redeveloped into a hotel or high-rise condo. (Photo: JLL) A plum freehold site of 25,741 sq ft in Cuscaden Road, off Orchard Road, has been put up for sale by tender, according to marketing agent JLL. A detached house purchased in the 1950s currently sits on the site, which is flanked by new high-rise developments. It is being sold by the trustees of the late owner, who are expecting offers of between $160 million and $170 million. Zoned for hotel use under the 2014 Master Plan, the site has an allowable gross plot ratio of 4.2. According to JLL, the Urban Redevelopment Authority (URA) is also willing to consider a redevelopment proposal for a 20-storey residential development. In both proposals, there may be commercial space on the first storey. “A purchaser could redevelop the site into a mid to upscale hotel with around 300 rooms, depending on the...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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