_30 Bideford Road up for sale by tender
SINGAPORE - Colliers and Knight Frank are jointly appointed as the exclusive marketing agents for the sale of 30 Bideford Road by tender. The property is an 18-storey freehold luxury mixed-use development, located at 28 and 30 Bideford Road, and is for sale at an indicative price of SGD600 million.
Designed by an award-winning Japanese architectural firm, Nikken Sekkei, 30 Bideford Road boasts 168 serviced residences and almost 5,065 square metres (sqm), or approximately 54,512 square feet (sq ft), of retail, office and medical space, spanning five storeys. The property sits on a site area of 2,006.9 sqm (approximately 21,602 sq ft) and has received its Temporary Occupation Permit in early 2020. Under the Urban Redevelopment Authority’s (URA) Master Plan 2019, the site was zoned “Commercial & Residential”, with a Gross Plot Ratio (GPR) of 4.9.
Located at the heart of Singapore’s premier shopping district, the development is easily accessible by various modes of transport. The Somerset MRT station on the North-South Line is situated only approximately 600 metres away. High-end residential developments, hotels, offices and shopping malls, including The Paragon, Ngee Ann City and Mandarin Gallery, are within its immediate vicinity.
Wei Leng Tang, Managing Director, Colliers Singapore, said, "30 Bideford Road is a newly completed and well-designed hospitality commercial development with high specifications, located right at the heart of Orchard Road. Subject to the termination of existing leases at the property, the property will be sold with vacant possession on an “as is, where is” basis, offering investors different options to maximise its potential. We are very familiar with this opportunity, as we have been involved in negotiating with a few potential occupiers for the proposed space on plan. Singapore’s property market continues to attract investors internationally and domestically, and we are excited to engage with investors in this perfectly timed launch to ride on the recovery of the hospitality market, as international borders start to reopen due to the rising vaccination rates globally."
Daniel Ding, Head of Capital Markets, Knight Frank Singapore, added: "This is a rare and attractive investment proposition for investors looking for a brand-new freehold trophy asset located in prime District 9. The opportunity may be suitable for hospitality operators who seek a flagship hospitality asset, or investors looking to acquire a generational asset."
The joint tender for the sale of 30 Bideford Road will close at 3pm on Tuesday, February 15, 2022.
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About Knight Frank
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 16,000 people operating from 384 offices across 51 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the firm, please visit knightfrank.com.
About Colliers
Colliers is a leading diversified professional services and investment management company. With operations in 65 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 26 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.6 billion ($4.0 billion including affiliates) and $46 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
30 Bideford Road