Former Singapura Theatre at Changi put up for sale by tender

A freehold commercial redevelopment site along Changi Road has been put up for sale by tender.

Sole marketing agent Knight Frank said the site at 55 Changi Road, which housed the former Singapura Theatre, sits on a land area of 1,811 square metres.

It has a potential gross floor area of about 58,490 square feet.

Knight Frank said the asking price of S$45 million translates to a land price of S$769 per square foot and no development charge is payable.

Under the 2008 Master Plan, the land is zoned for commercial use at a plot ratio of 3.0.

The land is adjacent to the future Paya Lebar Central, a commercial hub to be developed outside the city centre as part of the Urban and Redevelopment Authority’s decentralisation strategy to provide alternatives for businesses and jobs closer to homes.

The site is also close to the Paya Lebar MRT Station on the Circle Line and the Eunos MRT Station on the East-West Line.

The tender will close at 3pm on November 11.

Source : Channel NewsAsia – 29 Sep 2010

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