Ming Arcade up for collective sale by tender

The redevelopment site, located on 21 Cuscaden Road is zoned ‘commercial’ with a gross plot ratio of 4.2+ and an allowable building height of 20 storeys.

Sole Marketing Agent Jones Lang LaSalle is presenting this sale.

With an approved gross floor area of 55,046 sq ft, no development charge is payable for the site.

The possible redevelopment options include Small Office Home Office, medical suites, office and retail developments, subject to relevant authorities approval and payment of Development Charge.

Ming Arcade currently comprises 88 commercial/ retail strata units of varying sizes from 140 sq ft to 620 sq ft. The immediate vicinity includes high-end residential developments like Boulevard Vue, Boulevard Residences, Cuscaden Residences, Four Seasons Park and St. Regis Residences. Ming Arcade is less than 500 m away from Orchard MRT Station and public transportation is easily available along Orchard Road.

The site enjoys excellent accessibility to the other parts of the Island via the Pan Island Expressway and Central Expressway. Commercial developments in the vicinity include Forum The Shopping Mall, Delphi Orchard, Orchard Parade Hotel, Far East Shopping Centre and Tanglin Shopping Centre amongst many others. Nearby medical facilities include Camden Medical Centre, Mount Elizabeth Hospital and Gleneagles Hospital / Medical Centre.

Ms Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, comments “The subject site offers a potential developer a rare opportunity to acquire a piece of freehold land within the prime Orchard Road shopping belt. The affordable quantum brings an attractive opportunity for both small and mid-sized developers.

With a commercial zoning, a wide range of redevelopment options are permissible on the site, subject to approval. These include Small Office Home Office, medical suites or a retail development. Ms Hoh also adds that the location is ideal for a corporate flagship building.”

The tender will close at 3pm on 1 September 2011.