The Business Times
business-time-50
HOCK LOCK SIEW
·
SUBSCRIBERS

Could intensifying competition in Orchard Road be driving Wharf to sell Scotts Square?

google-preferred-sourceAdd BT as a preferred source
Leslie Yee

Leslie Yee

Published Wed, Jan 24, 2024 · 05:00 AM
    • Scotts Square's long-time owner has put the asset up for sale with a S$450 million price tag.
    • Scotts Square's long-time owner has put the asset up for sale with a S$450 million price tag. PHOTO: YEN MENG JIIN, BT

    MAJOR changes are afoot along Singapore’s Orchard Road shopping belt, which could see one of the most famous malls in the area, Scotts Square, change hands soon.

    Wharf Estates Singapore (WES), formerly known as Wheelock Properties, put the freehold retail podium at Scotts Square up for sale at a S$450 million guide price.  

    Located next to Grand Hyatt Singapore along Scotts Road, Scotts Square is part of a mixed-use development, which also has residential units. Its guide price translates to a rate of S$3,438 per square foot per plot ratio, based on a gross floor area (GFA) of 130,875 square feet (sq ft). 

    Hock Lock SiewOrchard RoadSingapore propertyCommercial & IndustrialRetailProperty investment

    TRENDING NOW

    Han Keen Juan, executive chairman, Old Chang Kee says he did not build his curry puff empire alone

    From hawker stall to Enterprise Award winner: How Han Keen Juan scaled the Old Chang Kee empire

    The price paid for the Shi family’s latest bungalow purchase in Cluny Hill works out to S$2,295 psf on a land area of 37,036 sq ft.

    Haidilao co-founder’s family buys second bungalow in Cluny Hill for S$85 million

    The departure of food manufacturing operations from Singapore may not necessarily be reason for concern.

    Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned

    The authorities say the new measures will not affect the majority of developers, who have delivered “quality private housing projects to homebuyers”. 

    Ban on land sales, new launches for developers that deliver ‘defect-ridden’ projects

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More