The full article can be found in The Business Times, Real Estate Section, Page 19, 6 June 2018.
The expected price for Freehold Katong Plaza is suggested to be S$188 million dollars — of which 80 per cent of it goes to commercial owners, and the remaining 20 per cent goes to residential owners.
Freehold Katong Plaza has a total strata area of 38,643 square feet, housing 132 commercial units and 14 residential units. The plot is located along Brooke Road and it links the Katong-Joo Chiat area with the Marine Parade station, set to open in the future.
The Urban Redevelopment Authority’s guidelines states that a minimum of 60 per cent of the gross floor area in the new development has to be designated for residential purposes.
ZACD Executive Director and Chief Investment Officer, Nicholas Mak, said that the site’s unique composition and features could test future development.
He commented, “The site of Katong Plaza is rather thin and narrow, which could pose some challenges for future development.”