Beauty World Plaza up for collective sale for third time at S$165 million

SINGAPORE: Mixed-use advancement Beauty World Plaza is up for cumulative sale for a 3rd time at S$ 165 million (US$ 129 million), stated ETC, a member of realty group Realion, on Tuesday (Oct 13).

This equates to about S$ 2,231 per square foot of gross flooring location.

Found beside Beauty World MRT station, Beauty World Plaza is a 999-year leasehold advancement on a website of about 24,817 sq ft.

It has 8 floors, with stores on levels one to 3 and apartment or condos on the staying floorings.

AND SO ON, the sole marketing representative, is performing the sale through a public tender workout which closes at 3pm on Nov 19.

The website is zoned for “commercial and residential” usage with a gross plot ratio of 3 under the Urban Redevelopment Authority (URA) Master Plan 2025.

In-principle preparation approval from URA for serviced homes has actually been given for the domestic part of the advancement, permitting about 108 secrets based upon a minimum system size of 35 sq m, stated ETC.

Appeal World Plaza is likewise found in a location with a high concentration of tertiary and global universities, consisting of the Singapore Institute of Management, Singapore University of Social Sciences and National University of Singapore, included ETC.

Main schools within 1km of the advancement consist of Pei Hwa Presbyterian Primary School, with Bukit Timah Primary School and Methodist Girls’ School (Primary) within a 2km radius.

“Beauty World Plaza offers a rare opportunity to acquire a near-freehold asset in a vibrant and highly accessible locale within Bukit Timah, with the flexibility to explore different strategies for the asset,” stated ETC’s head of financial investment advisory Swee Shou Fern.

This is the 3rd time Beauty World Plaza has actually been installed for cumulative sale. Efforts to offer the advancement at the exact same guide rate were formerly made in November 2018 and June 2019 by Knight Frank Singapore.