Katong Shopping Centre relaunches collective sale with unchanged S$638 million reserve price

FREEHOLD Katong Shopping Centre is back on the market for collective sale at its original reserve price of S$638 million, following a failed en bloc bid in May. This is the fourth attempt by the owners to sell the property, which was initially listed for sale in 2016 and 2017 at S$630 million. The current reserve price translates to a land rate of S$2,277 per square foot per plot ratio (psf ppr) over its existing gross floor area (GFA), according to marketing agent Edmund Tie & Company.

Located in District 15, the shopping centre sits on a corner land plot covering 86,924 square feet (sq ft) and has dual road frontage along Mountbatten Road and Haig Road. With a gross plot ratio (GPR) of 3.223, the site allows for a total GFA of approximately 280,000 sq ft.

The mixed-use development consists of a seven-storey podium block and a five-storey annex block, housing a total of 425 strata shop and office units, along with a privately-held carpark on levels 3 and 4.

Under the Master Plan 2019, Katong Shopping Centre is zoned for commercial and residential use with a GPR of 3.0, presenting an attractive investment opportunity for potential buyers looking to leverage its prime location and development potential.