The longstanding People’s Park Centre has actually been put up for sale via collective tender at a reserve price of $1.8 billion. Period has been assigned as the sole advertising and marketing agency.
Situated at 101 Upper Cross Street, the growth is next to the Chinatown MRT Station (on the North-East Line and Downtown Line) as well as a brief drive to the CBD.
Presently, the mixed-use development includes 324 retail devices, 256 office units as well as 120 property units, along with a carpark.
Finished in 1970, the 99-year leasehold site extends a land area of 95,457 sq ft with an allowable gross story ratio of 8.6, converting to a maximum built-up area of 821,017 sq ft. ERA estimates the land cost at $2,620 psf ppr after taking into consideration the differential costs as well as lease top up to a fresh lease.
Individuals’s Park Centre is …