Situated within the Beach Road/Ophir-Rochor Corridor, which is planned to be a vibrant mixed-use cluster under Master Plan 2014, and just a stone’s throw from Rochor MRT station on the Downtown line, the freehold commercial property occupies a prominent spot with high visibility along the main Rochor Canal Road stretch, as well as Albert Street and Short Street, reported Business Times.
City View Holdings, a wholly owned subsidiary of Worldwide Hotels, which owns and manages chains such as Hotel 81, has bought Golden Wall Centre in Singapore for S$276.2 million (US$201.1 million).
Situated within the Beach Road/Ophir-Rochor Corridor, which is planned to be a vibrant mixed-use cluster under Master Plan 2014, and just a stone’s throw from Rochor MRT station on the Downtown line, the freehold commercial property occupies a prominent spot with high visibility along the main Rochor Canal Road stretch, as well as Albert Street and Short Street, reported Business Times.
An application for hotel use at the existing approved gross floor area of 11,007.929 sq m, reflecting an equivalent plot ratio of 4.88, has already been approved by the Urban Redevelopment Authority (URA).
Swee Shou Fern, senior director of investment advisory at ET&Co, which handled the collective sale, said: “With its strategic city fringe location, prominent triple frontage and proximity to the arts, heritage and cultural districts, Golden Wall Centre is ideal for a hotel development.”