Ming Arcade, a prime freehold commercial development located off Orchard Road, is up for collective sale by tender.
The redevelopment site on 21 Cuscaden Road is zoned ‘commercial’ with a gross plot ratio of around 4.2 and an allowable building height of 20 storeys.
With an approved gross floor area of 55,046 square feet, no development charge is payable for the site.
According to sole marketing agent Jones Lang LaSalle, Ming Arcade currently comprises 88 commercial or retail strata units of varying sizes from 140 to 620 square feet.
Ms Stella Hoh, national director and head of investments at Jones Lang LaSalle, said, “With a commercial zoning, a wide range of redevelopment options are permissible on the site, subject to approval. These include Small Office Home Office (SOHO), medical suites or a retail development.”
She added that the location is ideal for a corporate flagship building and is close to Orchard MRT Station.
The tender will close at 3pm on September 1.
Source : Channel NewsAsia – 18 Jul 2011