Freehold Balestier Centre Launched for Collective Sale at S$180 Million
Freehold Balestier Centre at 560-568 Balestier Road has been put up for collective sale at a guide price of S$180 million, or about S$1,495 per sq ft per plot ratio. The mixed-use development sits on a 40,133 sq ft site with a gross plot ratio of 3.0, allowing a maximum permissible gross floor area of about 120,400 sq ft without incurring a land betterment charge. Huttons Asia is the exclusive marketing agent, and the public tender closes on July 28.
Guide Price
Land Rate
Site Area
Max GFA
Site Details and Existing Development
Balestier Centre is a freehold mixed-use development at 560-568 Balestier Road, zoned for commercial and residential use. The property occupies a 40,133 sq ft site with a gross plot ratio of 3.0 and a current built-up area of about 47,400 sq ft. It houses ground-floor commercial units and 20 residential apartments on the second and third storeys.
The collective sale has already garnered strong support, with consent secured from owners representing 86.66% by share value and 86.73% by strata area. Based on the S$180 million guide price, residential owners stand to receive gross proceeds above S$3 million each, while commercial unit owners could pocket S$10 million or more.
Redevelopment Potential
Based on the existing gross plot ratio of 3.0, a developer can build up to a maximum permissible GFA of about 120,400 sq ft without incurring any land betterment charge. Lim Tong Kay, a development consultant at collective sale consultancy Land Potential, noted that under current planning guidelines, a 14-storey mixed-use project could be built on the site.
The envisioned redevelopment includes a two-storey commercial podium fronting Balestier Road and a five-storey commercial podium to the rear, topped by an eight-storey residential tower. Residential condominium facilities would be located on a roof terrace at the sixth storey. The site has an 81-metre frontage along Balestier Road, providing strong commercial visibility.
Precinct Transformation and Market Context
Huttons Asia CEO Mark Yip noted that the Balestier precinct is undergoing meaningful rejuvenation, anchored by the revitalised Shaw Plaza, Zhongshan Mall and the expanding HealthCity Novena medical hub. Any future development on the Balestier Centre site would benefit significantly from this ongoing transformation.
The freehold tenure adds to the site’s appeal for developers. Huttons Asia senior group regional director Tan Siang Hwa highlighted the attractiveness of the freehold status in a market where such land parcels in established neighbourhoods are increasingly scarce.
The public tender for the Balestier Centre site will close on July 28 at 3pm.
Frequently Asked Questions
What is the guide price for the Balestier Centre collective sale?
Balestier Centre is being offered at a guide price of S$180 million, which works out to about S$1,495 per sq ft per plot ratio based on the site’s 40,133 sq ft area and gross plot ratio of 3.0.
What can be built on the Balestier Centre site?
Under current planning guidelines, a 14-storey mixed-use development could be built, featuring a two-storey commercial podium fronting Balestier Road, a five-storey commercial podium to the rear, and an eight-storey residential tower above. The maximum permissible GFA is about 120,400 sq ft without incurring a land betterment charge.
When does the tender for Balestier Centre close?
The public tender closes on July 28 at 3pm. Huttons Asia is the exclusive marketing agent handling the sale.
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