Photo from Cushman & Wakefield

High Street Centre relaunched for second tender for $748m

Reserve price may still decline amid an ongoing garnering of fresh consensus. 

Cushman & Wakefield announced that the High Street Centre at No. 1 North Bridge Road has been relaunched for sale by tender for $748m.

This is the second time the property has been put on sale after the first attempt closed on 25 January 2024 without any firm bids at or above the reserve price. 

According to the real estate agency, the reserve price may still fall below $700m as it is in the process of garnering a fresh 80% consensus.

High Street Centre has a total gross floor area of 43,300.72 square metres. 

It is located near landmarks, such as the Victoria Theatre, Fort Canning, The Padang, The Esplanade, St. Andrew’s Cathedral, The Capitol, The National Gallery, and the Asian Civilisations Museum. It is also next to well-known areas like The Central, Clarke Quay, Boat Quay, Raffles City, Funan Mall, and the upcoming Canninghill Piers.

Cushman & Wakefield said the Urban Redevelopment Authority (URA) will support a development of at least 60% total gross floor area for commercial use, which may comprise a mix of office, retail (including F&B), and 40% for hotel, which should have a maximum of 450 rooms. 

The URA is also open for residential or serviced apartment use for this 40% quantum. 

Authorities assure there will be no Additional Buyers’ Stamp Duty (ABSD) as the zoning of the site is “Commercial.”

ALSO READ: Singapore offices most expensive to fit-out in SEA

The tender for High Street Centre will end on 24 June 2024, 3 PM. 

Join Singapore Business Review community

Follow the link for more news on

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

You're the reader we write for. You're also the person our partners want to reach.

If that sentence describes you — a founder, a C-suite, someone whose attention companies pay good money for — then you already understand why SBR works. We've spent twenty years earning the trust of readers exactly like you. Which is exactly what makes this an interesting place for your company to show up, too.

The ways it can show up are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The right fit depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If your company has something this audience should know about, we'd like to hear what you're working on.

No rate cards until we understand the brief. It's a better use of everyone's time.

Top News

30 One-Sentence Stories From People Who Have Built Better Habits
None of these stories are mine. They were sent to me by readers of Atomic Habits. My hope is that these examples will illustrate how real people are putting the book into practice. They will show you what people are actually doing to build good habits and break bad ones. And hopefully, they will spark some ideas for how you can do the same.
SBR 5 Lorem Ipsum News 2 [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 4 Lorem Ipsum [8 May Top Stories]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

How Experts Figure What to Focus On
eliminate the distractions. Commit to one thing and become great at that thing.”
Exclusive three SBR 12 Lorem Ipsum [8 May]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
SBR 3 Lorem Ipsum [ Exclusive 2]
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Event News

Video [Event News]
Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley