Katong Shopping Centre is located on a freehold property parcel on Mountbatten Road and Haig Road

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Katong Shopping Centre is a mixed-use freehold development located at 865 Mountbatten Road in District 15 is being relaunched as a the collective sale of tenders according to Marketing agent Edmund Tie. The price indicative of $638 million has not changed from the earlier auction, which was launched on April 18 and ended in May 19.

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Katong Shopping Centre is located on a corner land area of 86,924 square feet and has a dual frontage of 200m along Mountbatten Road and Haig Road. The structure comprises a seven-storey podium block as well as an adjoining block of five stories which houses 425 strata shops and office units. It also has a privately-owned car park. The building has a Gross Floor Area (GFA) approximately 280,000 square feet, indicating the gross percentage of 3.223.

Under the Master Plan 2019Master Plan Katong Shopping Centre is zoned to “Commercial and Residential” usage at an average plot ratio of 3.0. Edmund Tie notes that the site could be developed into an integrated project at the current proportion of 3.223 and the possibility to convert the residential portion into serviced apartments subject to the approval of the authorities.

The estimated cost of $638million equates to $2,277 per plot ratio, based on the Katong Shopping Centre’s current GFA according to Edmund Tie.

Swee Shou Fern director of investment advice of Edmund Tie, says the new development on the site could be able to accommodate 156 units basing on an average size of 1,076 square feet and 112,000 square feet of commercial GFA.

The site is located approximately 500m away from Marine Parade MRT Station on the Thomson-East Coast Line, which is scheduled to be operational by 2024. Nearby schools comprise Tao Nan School and CHIJ (Katong) Primary School, both located within the 1km distance from Katong Shopping Centre in Katong, and Dunman High School, Chung Cheng High School, Victoria Junior College and Canadian International School.

“Katong Shopping Centre provides investors with the rare opportunity to purchase a large, site with the sought-after freehold tenure of mixed-use developments; and what’s more, it’s located in the renowned and established East Coast vicinity,” says Swee.

The EOI process to apply for Katong Shopping Centre will close on August 14 at 3pm.