Commercial, mixed-use en bloc sales may be unscathed by strata subdivision rule
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THE new restriction on strata subdivision of some commercial properties in Singapore's Central Area may not move the needle for future collective sales in general, although it could hinder the plans of existing unit owners, property consultants told The Business Times (BT).
In a circular on Tuesday (Mar 15), the Urban Redevelopment Authority (URA) announced that commercial developments as the commercial component of mixed-use developments located in certain prominent areas and routes are no longer allowed to be strata subdivided into individual units.
The guidelines apply to locations such as Orchard Road, Tanglin Road, Scotts Road (Orchard Road corridor), Shenton Way, Robinson Road, Anson Road, Raffles Quay, Raffles Place Park, and along the Singapore River (CBD corridor).
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