# Owners of freehold Balestier Centre launch first collective sale bid at $180 mil - **Source:** EdgeProp Singapore - **Published:** 2026-06-28T22:00:00.000Z - **Author:** Cecilia Chow - **Original:** https://www.edgeprop.sg/property-news/owners-freehold-balestier-centre-launch-first-collective-sale-bid-180-mil - **Topics:** New Launches, Government & Policy, Transactions & Deals ## Featured rationale The full redevelopment potential and absence of a land betterment charge may strengthen developer interest in this city-fringe mixed-use site despite its substantial acquisition price. ## AI summary Freehold Balestier Centre launched its first collective sale tender at $180 million, equivalent to $1,495 psf ppr, with no land betterment charge payable. ## Original article Balestier Centre, a freehold mixed-use development at 560–568 Balestier Road, has been launched for collective sale via public tender with a guide price of $180 million. Huttons Asia is the exclusive marketing agent. This marks the first collective sale attempt by the owners of Balestier Centre, says Stephen Tan, senior group district director at Huttons Asia. The collective sale committee has secured the consent of owners representing 86.66% of the share value and 86.73% of the strata area, exceeding the 80% threshold required to launch a collective sale. The property occupies a regular-shaped freehold site of 40,133 sq ft with an 81m frontage along Balestier Road. It is zoned "Commercial & Residential" with a gross plot ratio of 3.0 under the URA Master Plan, allowing a maximum gross floor area (GFA) of about 120,400 sq ft. Read also: Freehold residential property on Upper East Coast Road for sale at $14.1 mil The guide price translates to a land rate of $1,495 psf per plot ratio (psf ppr). No land betterment charge is payable as the site's existing development baseline already reflects the maximum gross plot ratio of 3.0, allowing redevelopment to its full permitted intensity, says Tan. Based on the estimated land rate, Tan expects the new development on the site to achieve selling prices of about $2,300 to $2,500 psf for residential units, while new strata commercial units could fetch between $3,500 and $4,500 psf. Under the URA preliminary planning guidelines, the site could be redeveloped into a 14-storey mixed-use development. The proposed scheme features a two-storey commercial podium fronting Balestier Road, stepping up to five storeys at the rear. Above the commercial podium, the residential component would begin with communal facilities on a landscaped roof terrace at the sixth level. An 8m-high transfer structure would then support an eight-storey residential block above, says Lim Tong Kay, development consultant at Land Potential Pte Ltd. The existing Balestier Centre comprises commercial units on the ground floor and 20 residential apartments across the second and third storeys, with a built-up area of about 47,400 sq ft. According to Mark Yip, CEO of Huttons Asia, the Balestier precinct is undergoing significant rejuvenation, anchored by the revamped Shaw Plaza, Zhongshan Mall and the expanding HealthCity Novena medical hub. Read also: High Point condo relaunched for collective sale at $580 mil, marking fifth attempt "A future development here would benefit from the precinct's ongoing transformation, established amenities and excellent connectivity, making the site attractive to developers seeking a well-located freehold mixed-use site of meaningful scale," says Yip. The site is on the city fringe in District 12, about a 5- to 10-minute drive from Orchard Road and within a 12- to 20-minute drive of Marina Bay and the CBD. It is also well served by public transport, with Novena and Toa Payoh MRT stations on the North–South Line, and Caldecott MRT station on the Circle and Thomson–East Coast lines, all located nearby. Further along Balestier Road, Balestier Regency — a 72-unit freehold apartment block behind Shaw Plaza — was launched for collective sale at $255 million in May. The tender, handled by marketing agent SRI, closes on July 9. The exercise marks the owners' fourth attempt at a collective sale. The tender for Balestier Centre closes on July 28. ## Chinese translation > Translation model: grok ### 永久地契Balestier Centre业主首度集体出售，叫价1.8亿新元 指示价折合土地价约每平方英尺建筑容积1,495新元，且无需缴纳土地增值费。 位于Balestier Road 560–568号的永久地契（freehold）综合发展项目Balestier Centre，已通过公开招标启动集体出售，指示价1.8亿新元。好市多亚洲（Huttons Asia）为独家营销代理。 Huttons Asia高级集团区域董事Stephen Tan表示，这是Balestier Centre业主的首次集体出售尝试。集体出售委员会已获得占总份额价值86.66%、分层面积86.73%的业主同意，超过启动集体出售所需的80%门槛。 该物业坐落于规则形状的永久地契地块，面积40,133平方英尺，沿Balestier Road临街面约81米。根据市区重建局（URA）总体规划，地块划为“商业与住宅”用途，总容积率（gross plot ratio）为3.0，最高总楼面面积（GFA）约120,400平方英尺。 指示价折合土地价约每平方英尺建筑容积（psf ppr）1,495新元。Tan表示，由于地块现有发展基准已反映最高总容积率3.0，无需缴纳土地增值费（land betterment charge），可按全部许可强度重建。 基于上述土地价估算，Tan预计地块新发展项目住宅单位售价约每平方英尺2,300至2,500新元，新建分层商业单位或可达每平方英尺3,500至4,500新元。 根据URA初步规划指引，地块可重建为14层综合发展项目。拟定方案包括沿Balestier Road的两层商业裙楼，后部升高至五层。 Land Potential Pte Ltd发展顾问Lim Tong Kay表示，商业裙楼之上，住宅部分将从第六层景观屋顶平台的公共设施开始；其后由8米高转换结构支撑上方八层住宅塔楼。 现有Balestier Centre由地面层商业单位，以及分布在第二、三层的20套住宅公寓组成，建面约47,400平方英尺。 Huttons Asia首席执行官Mark Yip指出，Balestier片区正经历显著焕新，以改造后的Shaw Plaza、Zhongshan Mall，以及不断扩展的HealthCity Novena医疗枢纽为锚点。 “这里的未来发展项目将受益于片区持续转型、成熟配套与卓越连通性，使该地块对寻求地段优越、具一定规模的永久地契综合用地的开发商具有吸引力。”Yip说。 地块位于第12区城市边缘，驾车约5至10分钟可达乌节路，约12至20分钟可达滨海湾与中央商务区。公共交通亦便利，附近有南北线的诺维娜（Novena）与大巴窑（Toa Payoh）地铁站，以及环线与汤申—东海岸线的加利谷（Caldecott）地铁站。 沿Balestier Road再往前，Shaw Plaza后方的72单位永久地契公寓楼Balestier Regency，于5月以2.55亿新元启动集体出售。由营销代理SRI处理的招标将于7月9日截止。此举为业主第四次尝试集体出售。 Balestier Centre招标于7月28日截止。