A familiar landmark near Orchard Road is back in the spotlight. Singapore Shopping Centre has returned to the market with a fresh collective sale attempt, this time with a lower price tag.
Table of contents
- Collective sale relaunch
- Site details
- Lease renewal
- Location advantages
- Development options
- Market commentary
Collective sale relaunch
| Project name | Singapore Shopping Centre |
| Location | 190 Clemenceau Avenue, opposite Dhoby Ghaut MRT Interchange |
| Type | Mixed-use (Retail & Office) |
| Number of storeys | 7 |
| Land area | 26,369 sqft (2,449.8 sqm) |
| Gross floor area (GFA) | ~135,264 sqft (12,566.5 sqm) |
| Plot ratio (URA) | 4.2 under Draft Master Plan 2019 |
| Lease tenure | 99 years from 1948 (ETC has applied for top-up to a fresh 99 years) |
| Asking price | S$200 million |
| Tender close date | October 28 |
Singapore Shopping Centre, a mixed-use project at 190 Clemenceau Avenue, has been relaunched for collective sale at S$200 million. This works out to between S$2,800 and S$3,500 per sqft per plot ratio (psf ppr), depending on the type of land use and the intensity of redevelopment.
This latest move comes with a lower price tag compared to its earlier attempt in February 2020, when the reserve price was set at S$255 million and included provisional approval for hotel rezoning. With this new attempt, developers will have until October 28 to place their bids.
Site details
The site covers about 26,369 sqft, sitting on a corner plot that gives it high visibility. It is zoned for commercial use under a 4.2 plot ratio, making it suitable for a range of development concepts. At present, the building offers a gross floor area (GFA) of around 135,264 sqft, which includes both retail and office space. The property is currently under a 99-year lease starting from 1948.
Lease renewal
To make the sale more attractive, sole marketing agent ETC has submitted an enquiry to extend the lease to a fresh 99 years. During the previous collective sale attempt in 2020, the authorities had already shown in-principle support for such a renewal, which gives potential buyers added confidence about the site’s long-term viability.
Location advantages
One of the biggest strengths of this site is its connectivity. Situated directly opposite Dhoby Ghaut MRT Interchange, the building is highly accessible and close to Orchard Road redevelopment sites. It is also near iconic landmarks like The Istana and various cultural institutions. Furthermore, the precinct is currently undergoing a wave of transformation, with new public green spaces such as Dhoby Ghaut Green and several upcoming developments shaping the area into a more vibrant hub.
See more commercial spaces around Dhoby Ghaut MRT.
Development options
In terms of future use, the Urban Redevelopment Authority (URA) has shared two possible directions. First, the property could be redeveloped into a hotel while keeping to the existing 4.2 plot ratio. Alternatively, you could consider adaptive reuse of the current building, repurposing it for hotel operations at its existing gross floor area. This would work out to an equivalent plot ratio of about 5.13, providing additional flexibility.
Market commentary
According to Swee Shou Fern, head of investment advisory at ETC, the combination of location, connectivity, and flexibility makes the site especially attractive. With these qualities, she believes it has the potential to become a new anchor development on the fringe of Orchard Road. For those following the Singapore commercial property market, this collective sale could represent one of the more interesting opportunities in the current cycle.
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