United House has officially relaunched its collective sale tender, maintaining a reserve price of $166 million. This figure remains unchanged from earlier attempts to sell the property, indicating the owners’ continued confidence in the asset’s value. The property is located at Kramat Lane, in the highly sought-after Orchard Road area, which is well-known for its vibrant commercial activities and proximity to significant transport links.
The United House structure is a freehold commercial building that spans ten storeys and covers a land area of approximately 12,383 square feet. The property’s strategic location near the Dhoby Ghaut MRT Interchange is a key factor in its appeal. The site’s connectivity enhances its attractiveness for potential redevelopment, particularly as the area is already a hub for retail and hospitality. Given the absence of strata subdivision restrictions, the property is well-positioned for transformation into a flagship or lifestyle boutique hotel.
The tender was initially launched in October 2024, and the current deadline for submissions has been set for July 1, 2025. The exclusive marketing of the tender is managed by ETC, a firm known for its expertise in property transactions. This dedicated approach is expected to streamline the sales process and attract serious buyers who recognize the site’s potential.
For redevelopment, the pricing has been established at $3,045 per square foot per plot ratio (psf ppr) for commercial use and $3,254 psf ppr for hotel use. This pricing structure has been set following in-principle approval for hotel development, indicating that prospective buyers can move forward with a clear understanding of potential returns on investment. The pricing reflects the competitive landscape of the property market in Singapore, particularly in prime areas like Orchard Road.
The decision to relaunch the sale comes at a time when there is a growing demand for hotels in urban centers, driven by a resurgence in tourism and local business activities. The location of United House, combined with its freehold status, positions it as an attractive opportunity for developers and investors looking to capitalize on the rebound in the hospitality sector post-pandemic.
Furthermore, the potential for redevelopment into a hotel aligns with Singapore’s ongoing efforts to enhance its tourism offerings. With the city’s ambition to become a leading destination for international visitors, properties like United House can play a crucial role in meeting this goal. The combination of strategic location, approved usage, and a competitive pricing framework makes this tender a significant opportunity for interested parties.
As the July 2025 deadline approaches, all eyes will be on United House as stakeholders closely monitor interest levels and bidding activities. The outcome of this collective sale may very well set precedents for similar transactions in the future, making it a focal point in the commercial real estate landscape of Singapore.
RETAIL & OFFICES SPACE FOR SALE: FORTUNE CENTRE
Fortune Centre offers prime retail and office spaces for sale, strategically located in Singapore’s commercial district.
With flexible leasing options and a modern floor plan, it caters to various business needs.
View FORTUNE CENTRE Retail Shops and Offices for sale by contacting 6200 6220.
News Source: Edgeprop
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