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What are the sale transactions for Concorde Shopping Centre
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The Concorde Hotel and Shopping Mall, located at 100 Orchard Road in Singapore's District 9, was sold in a significant transaction in 2024. Here are the key details of the sale:
- The property was sold for SGD $821 million through a public tender that closed on November 6, 2024.
- The buyer is Luxury Peak Pte Ltd, a wholly owned subsidiary of Hotel Properties Ltd.
- The site enjoys a prominent frontage of approximately 170 meters along Orchard Road and covers about 99,623 square feet.
- The land is zoned for “Hotel” use, with a maximum allowable height of up to 10 storeys.
- The sale price translates to approximately $1,804 per square foot per plot ratio, including an estimated land betterment charge of $213 million.
- The redevelopment plans envision a mix of 40% hotel, 40% residential, and 20% commercial spaces.
- The buyer is Luxury Peak Pte Ltd, a wholly owned subsidiary of Hotel Properties Ltd.
- The site enjoys a prominent frontage of approximately 170 meters along Orchard Road and covers about 99,623 square feet.
- The land is zoned for “Hotel” use, with a maximum allowable height of up to 10 storeys.
- The sale price translates to approximately $1,804 per square foot per plot ratio, including an estimated land betterment charge of $213 million.
- The redevelopment plans envision a mix of 40% hotel, 40% residential, and 20% commercial spaces.
This transaction marks the largest collective sale of 2024 and highlights the ongoing interest in prime development opportunities along Orchard Road.
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