Katong Plaza tries for en bloc sale again at $188m

It can yield up to 300 hotel rooms with an average size of 215 sqft.

Katong Plaza has been relaunched for sale by public tender at an asking price of $188m or $1,968 psf ppr on 7 March 2019 by marketing agent Huttons Asia. The price includes a development charge of $13m.

According to an announcement, it has obtained approval from the Urban Redevelopment Authority (URA) for hotel use at a gross plot ratio of 3.0 The freehold site has a land area of 34,044 sqft and a total allowable maximum gross floor area of 102,133 sqft which can yield up to about 300 hotel rooms with an average room size of 215 sqft (20 sqm).

Also read: Freehold Katong Plaza up for collective sale at $188m

The property is 120 metres away from the future Marine Parade MRT station and is seven stops away from Raffles Place MRT Station. It is also some 10 to 15 minutes’ drive to Changi International Airport and the city centre.

The public tender for Katong Plaza closes on 9 April 2019, Tuesday at 3 p.m.