SINGAPORE: Jalan Besar Plaza has been put up for collective sale for an estimated sale price of S$390,000,000, real estate group Huttons announced on Monday (Nov 23).
In a press release issued on Monday, Huttons said that the estimated sale price comes up to S$2,451 per square foot for the 35-year-old commercial and residential building.
The 53,043 sq ft building is zoned under Commercial and Residential with a plot ratio of 3.0, under the 2014 Master Plan.
Huttons recommended that the building be changed into a "full-fledged commercial integrated with offices/medical suites/complementary and alternative medical services". This change would be subject to approval from the relevant authorities.
The closing date for the tender is Jan 21, 2016.