Jalan Besar Plaza up for public tender for a fourth time

JALAN Besar Plaza was launched for public tender for a fourth time on Thursday, said the marketing agent for the tender, Huttons Asia.

The owners last put up the freehold mixed-use development for tender on Oct 10, 2017.

The site, which has a land area of 4,927.8 sq m and has an existing approved GFA of 16,694 sq m, is zoned for commercial and residential use under the URA Master Plan.

No development charge is payable for the site.

Said Huttons: "The owners are expecting a price of S$380 million, which translates to a land rate of S$2,115 psf ppr for 40 per cent commercial use and 60 per cent residential use on the approved GFA of 16,694 sq m."

The site is a five-minute drive to the CBD, and is in the vicinity of Kallang Riverside Park and Jalan Besar Stadium.

The existing development is a 16-storey building with a three-storey commercial podium, and comprises 44 residential apartments and 111 commercial units.

The public tender for Jalan Besar Plaza closes on June 5 at 3.30 pm.