The freehold Golden Wall Centre has been sold en bloc at $276.2 million, reflecting a land rate of $2,331 psf per plot ratio. The prime commercial property was purchased by City View Holdings, a wholly owned subsidiary of Worldwide Hotels. Worldwide Hotels’ portfolio includes the Hotel 81 chains. The sale was brokered by Edmund Tie & Company (ET&Co).
Golden Wall Centre has a land area of about 24,239 sq ft, and is zoned for commercial use under the 2014 Master Plan. An outline application for hotel use at the existing approved gross floor area of about 118,489 sq ft, reflecting equivalent plot ratio of 4.88, was approved by the URA.
Golden Wall Centre is located at the doorstep of Rochor MRT station on the Downtown Line, and is an 8-minute walk to Little India MRT interchange which connects the Downtown and North East Lines. The property occupies a corner plot with a 180-metre triple frontage, and has high visibility along the main thoroughfare of Rochor Canal Road, as well as along Short Street and Albert Street.
ET&Co is also handling the ongoing collective sale of Golden Mile Complex, a landmark commercial property located along Beach Road. The tender for Golden Mile Complex will close on Jan 30 next year.

News Source: EdgeProp Singapore, 26 November 2018


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