Goh & Goh Building, a four-storey mixed-use building located at Upper Bukit Timah Road and next to the Beauty World MRT station, has been put up for sale by tender. According to JLL, the appointed marketing agent, the indicative price for the building is $120 million, which translates into approximately $1,460 psf ppr on potential gross floor area, before factoring in the 10% bonus balcony GFA for the residential component. The land rate includes an estimated development charge of $15 million payable upon redevelopment.

This is the first time the property has been put up for sale, says JLL. Goh & Goh Building, built in the late 1980s, comprises seven apartments and seven shops. More than 80% of the development’s owners have consented to the collective sale, according to JLL. Under the 2014 Master Plan, the 30,874 sq ft site is zoned “residential with commercial on the first storey” with an allowable gross plot ratio of three.

The tender exercise closes on March 28.