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

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).