The leasehold portion of The Centrepoint along Orchard Road is up for collective sale, with a guide price of $418 million.
Besides the mall, which Centrepoint is better known for, there is a residential component of 66 apartments.
The guide price of $418 million translates to $2,709 psf ppr, after factoring in a land betterment charge of $260 million to top up the lease to a fresh 99 years and intensify the site to a plot ratio of 5.6. The property was opened in 1983.
The site is currently zoned for commercial use under the 2025 Master Plan and has a gross plot ratio of 5.6 and height control of up to 10 storeys.
The property is unusual in that it sits on two adjoining land parcels. The freehold plot with 151 retail units is majority held by Frasers Property, with prime Orchard Road frontage.
Slightly further off the main road is a 99-year leasehold L-shaped portion — which is being put up for sale — consisting of 132 strata units of 66 retail units and the 66 apartments.
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"Developers have been bidding aggressively for government land sale sites and some of these will be keen to buy a part of The Centrepoint," says Jeremy Lake, managing director of investment sales and capital markets at Savills Singapore, which is handling the sale.
"For this reason, we are confident we can exceed the guide price," he adds.
According to Lake, Savills Singapore has built a track record of successfully brokering several major collective sales along Orchard Road. The list includes Concorde Hotel & Shopping Mall, sold for $821 million, or $1,804 psf ppr in 2024; Delfi Orchard for $439 million or $3,346 psf ppr in May 2024; Tanglin Shopping Centre in February 2022 for $868 million, or $2,769 psf ppr; and Ming Arcade for $172 million, or $3,125 psf ppr in December 2022.
"The Centrepoint continues this strong track record and further reinforces the appeal of Orchard Road among institutional and private developers,” says Lake.
There are no restrictions on foreign ownership.
The public tender will launch on Jan 7 and close on Feb 26 at 3pm.
