Grand Building relaunched for collective sale at $195 mil

April 7, 2022

SINGAPORE (EDGEPROP) - Grand Building, a commercial building located at 17 Phillip Street in Raffles Place, has been put up for collective sale by tender at an indicative price of $195 million.



This is the second time the building has been put up for collective sale. The owners of the 10-storey building had previously made an attempt last October, with the property put on the market at the same indicative price of $195 million.

Grand Building sits on a site area of approximately 5,313 sq ft with a 999-year lease from 1827. The site is zoned for commercial use with a plot ratio of 15 and a maximum height of 50 storeys under the URA Master Plan 2019

The indicative price of $195 million translates to $2,447 psf per plot ratio based on the maximum gross floor area of 79,695 sq ft for the site. As a commercial property, there is no additional buyer’s stamp duty payable for acquisition and no restriction on foreign ownership.

Read more at: https://www.edgeprop.sg/property-new...e-sale-195-mil