Image of Future Project (Source: Huttons Asia)
Balestier Centre, a freehold mixed-use development at 560-568 Balestier Road, has been launched for collective sale, with a guide price of $180 million. Huttons Asia is the exclusive marketing agent for the sale.
The guide price translates to a land rate of approximately $1,495 per square foot per plot ratio (psf ppr), with no land betterment charge payable to redevelop the site to its maximum permissible plot ratio of 3.0.
Occupying a regular-shaped land area of approximately 40,133 sq ft (3,728.5 sq m), the site is zoned “Commercial & Residential” with a gross plot ratio of 3.0 under the Master Plan, allowing a maximum permissible gross floor area (GFA) of approximately 120,400 sq ft. As the existing development baseline already reflects a plot ratio of 3.0, the site can be intensified to its full potential with no land betterment charge payable. The property also enjoys a prominent 81-metre frontage along Balestier Road, a key arterial corridor in the city fringe.
The development currently comprises ground-floor commercial units and 20 residential apartments across the second and third storeys, with a current built-up area of approximately 47,400 sq ft. At the close of the consent period, the Collective Sale Committee had secured commitment from owners representing 86.66% by share value and 86.73% by strata area, well above the threshold required under the collective sale legislation.
“Balestier Centre is a rare freehold mixed-use redevelopment opportunity in the established city-fringe locale of Balestier, anchored by an exceptional 81-metre frontage along the main road. At a guide price of $180 million, the land rate of approximately $1,495 psf ppr is highly attractive for a freehold site of this profile, especially with no land betterment charge payable to build up to the full 3.0 plot ratio,” said Stephen Tan, Senior Group District Director of Huttons Asia.
Based on preliminary planning guidelines obtained from the Urban Redevelopment Authority (URA), and subject to final approval, the site can be redeveloped into a distinctive 14-storey mixed-use landmark. The proposed scheme features a two-storey commercial podium fronting Balestier Road and a five-storey commercial podium to the rear, with residential condominium facilities set out on a roof terrace at the sixth storey. An 8-metre-tall transfer structure would then support an eight-storey residential tower above, blending retail vibrancy at street level with private apartment living atop, said Lim Tong Kay, Development Consultant of Land Potential Pte Ltd.
“The Balestier precinct is undergoing meaningful rejuvenation, anchored by the revitalised Shaw Plaza with its 11-screen cineplex, Zhongshan Mall and the expanding HealthCity Novena medical hub. A future development here would benefit from this transformation, established amenities and excellent connectivity, making the site appealing to developers seeking a well-located freehold mixed- use plot of meaningful scale,” said Mark Yip, CEO of Huttons Asia.
The site sits within District 12, a city-fringe location approximately 4 km from the Orchard Road shopping belt and the Central Business District. It is served by Novena (NS20) and Toa Payoh (NS19) MRT stations on the North-South Line, Caldecott MRT interchange (CC17 and TE9) on the Circle and Thomson-East Coast Line, as well as Boon Keng (NE9) and Farrer Park (NE8) on the North-East Line, and enjoys strong vehicular access via the Central Expressway (CTE) and Pan-Island Expressway (PIE). Residents and tenants are well supported by an established cluster of amenities, including Shaw Plaza, Balestier Plaza, Zhongshan Mall and the Whampoa hawker centre, alongside healthcare institutions such as Tan Tock Seng Hospital.
The collective sale of Balestier Centre is being conducted by public tender, which closes on 28 July 2026 at 3:00 p.m.
For further information, please contact:
Stephen Tan, Senior Group District Director, R007314A
Tel: +65 9853 8843 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)
Aric Lim, Group District Director, R007953J
Tel: +65 8383 2838 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)
