SINGAPORE (EDGEPROP) - A commercial land parcel at Club Street has been put up for sale via an expression of interest (EOI) with a minimum guide price of $30 million.

The land is zoned for commercial use under the Urban Redevelopment Authority’s (URA) Master Plan and has a total area of 6,929 sq ft. URA has also granted outline planning permission (OPP) for use as a hotel. As an envelope control site, the current OPP allows the site to be developed up to two storeys plus a roof terrace and a basement.

Loyalle Chin, director of PropNex ShophouseHuat and associate district director at PropNex Realty, says: “With Freehold/999 years commercial land in Singapore being increasingly rare, this land parcel in the highly coveted Club Street is an attractive opportunity for family offices and developers seeking to add to their existing ‘land bank’ or purchase for their own usage.”

Read also: Singapore's largest Mercure hotel to open on Club Street in 1Q2024

Located within Club Street and Ann Siang Hill Park area, the parcel is within walking distance of Maxwell MRT Station, Chinatown MRT Station, Tanjong Pagar MRT Station and Telok Ayer MRT Station. It is also adjacent to the Singapore Chinese Weekly Entertainment Club at 76 Club Street.

The EOI exercise for the land parcel will close on Nov 1 at 3pm.