Mixed-use concept eyed for Stamford Road-North Bridge Road property

Residential units located in the junction are estimated to sell for above $2,000 psf with Perennial Real Estate and Chesham Properties’ plan to redevelop the 1.43 hectare area.

The consortium, which was awarded a S$250 million tender for a 99-year lease, plans to integrate hotel, retail, entertainment and residential uses for the property.

In a statement, Li Hiaw Ho, Executive Director of CB Richard Ellis Research said, ““The location of this mixed-use development is excellent with immediate access to City Hall MRT Station, making it attractive for any kind of commercial and residential use… Should the apartments at this new downtown location be sized as small format units of about 500 sf to 1,000 sf, the residential component alone should be able to finance a substantial portion of the overall development cost, considering the overall land cost of $461 psf/plot ratio.”

Ho also lauded the plan to restore Capitol Building and Stamford House into a five-star hotel, saying the plan “is possibly the most difficult element to design for, and in all likelihood, the design and architectural ingenuity that went into accommodating a modern hotel within the walls of these conservation buildings played a big part if not the key role in the government’s acceptance of the overall concept."