The Arcade put up for sale by tender

[SINGAPORE] The owners of The Arcade, which include property developer City Developments, are looking to sell the 20-storey commercial development in Collyer Quay for $900 million.

The 999-year leasehold development has a maximum allowable gross floor area of 303,657 square feet, but the total existing strata area stands at 157,325 sq ft.

Marketing agent Colliers International said: "There is huge redevelopment potential for the site, as the existing plot ratio has not been fully maximised."

Under the 2008 Master Plan, the 21,909 sq ft site The Arcade now sits on is zoned for commercial use; its allowable plot ratio is 13.86, paving the way for a building up to 50 storeys…