Savills : Collective Sale of Sixth Avenue Centre

Savills Singapore is pleased to announce the launch for sale by tender, the collective sale of Sixth Avenue Centre.

Completed in the 1980s, the freehold development which consists of 7 shops and 18 apartments, occupies a land area of 1,394.4 sq m (or 15,009 sq ft). Flanking a prominent corner with double street frontage of 50 m by 20 m along the main Bukit Timah Road and Sixth Avenue respectively, it is zoned for commercial & residential use with a gross plot ratio of 3 under the 2014 Master Plan. The site may be developed up to 5-storeys with an allowable gross floor area of 4,183.2 sq m (or 45,028 sq ft).

Subject to approvals by the relevant authorities, the site can potentially accommodate a development with retail component and 35 apartments (average size of 753 sq ft each) having a total gross floor area of 18,011 sq ft and 27,017 sq ft respectively.

Sixth Avenue Centre is located in an established residential enclave surrounded by popular condominiums such as Royalville, Fifth Avenue Condominium, Sixth Avenue Ville and Villa Azura as well as exclusive and prestigious mixed landed homes and Good Class Bungalows. Guthrie House, a commercial building, is situated directly opposite the subject site. Situated just 150 m from the Sixth Avenue MRT station, it is a short drive to trendy eateries and shopping amenities at The Grandstand, in the Dempsey Hill and Holland Village enclave and the green lungs around Botanic Gardens. It is also near to reputable schools including Nanyang Primary School, Raffles Girls' Primary School and Henry Park Primary School.

Based on the allowable Gross Floor Area of 4,183.2 sq m, the Collective Sale of Sixth Avenue Centre has an indicative guide price of S$90.5 million or land rate of S$2,022 psf ppr factoring a development charge of approximately S$526,000.

'Amidst the redevelopment of Royalville and the Fourth Avenue GLS site in the near future, Sixth Avenue Centre presents a rare freehold opportunity for developers to acquire a boutique site with complementary retail redevelopment options in this tightly held commercial cluster. The unique retail proposition will add buzz and create a new focal point underpinned by existing shopping and dining amenities. We expect keen contest from developers as this is the only mixed use site available for sale in the locale' said Suzie Mok, senior director of Investment Sales at Savills Singapore who is handling the sale.

The tender for Sixth Avenue Centre will close at 3pm on 31 January 2018.