Savills Singapore, as the exclusive marketing agent, is pleased to launch Concorde Hotel & Shopping Centre on 100 Orchard Road for sale by way of a public tender.
Enjoying a very prominent frontage of approximately 170 metres along Orchard Road, Concorde Hotel & Shopping Centre is situated on a corner island site of approximately 99,623 sq ft and is zoned “Hotel” with a height control up to 10 storeys. The property has a development baseline verified by Singapore Land Authority (SLA) at 539,719 sq ft which is equivalent to a plot ratio of 5.41, and compares with the Master Plan plot ratio of 5.6. The property currently has a 3-storey retail podium with approximately 108,510 sq ft strata area and a 407-room hotel from levels 4 to 9 that overlooks the lush greenery of Istana Park.
Rejuvenation plans have been confirmed and will be completed progressively from 2025 to pedestrianise this stretch of Orchard Road and expand the existing Istana Park green spaces situated directly across the site. Concorde Hotel & Shopping Centre is strategically placed and poised to benefit from this transformation, being the key major gateway project that will connect Dhoby Ghaut to the upper stretch of Orchard Road.
Enjoying 4 road frontages along Orchard Road, Cavenagh Road, Kramat Lane & Buyong Road, the corner island site commands a distinctive presence and enjoys high footfall and traffic throughout the day. The site boasts an enviable address along Orchard Road, Singapore’s most renowned shopping belt and is set amidst a diverse mix of internationally renowned brands and retailers, dining establishments and entertainment options.
Well served by the public transport network merely 3 minutes’ walk from both Dhoby Ghaut MRT Interchange and Somerset MRT station, the site offers unrivalled access to the Central Business District and Marina Bay. Future development will also feature a direct underground pedestrian walkway to Somerset MRT station which will significantly increase connectivity and footfall.
This large development site offers developers ample planning flexibility and multiple development options to create the next iconic landmark development in the heart of Orchard. Potential uses for the site include luxury retail, , residential and hotel uses, subject to the relevant authorities’ approval. An Outline Planning application has already been submitted to the authorities for a mixed-use redevelopment scheme comprising Hotel, Commercial and Residential use.
The guide price is S$820 million which works out to approximately S$1,801 per plot ratio (ppr) including balconies assuming a 40% Hotel, 40% Residential and 20% Commercial use and assuming the developer pays S$213.1 million to top up the lease to a fresh 99 years. The buyer may also consider submitting an alternative Outline Planning Application for a different use mix.
Jeremy Lake, Managing Director, Investment Sales & Capital Markets, Savills Singapore says, “Savills has brokered all the successful collective sales sites along Orchard Road in the past 3 years: Tanglin Shopping Centre (S$868M / S$2,769 ppr), Ming Arcade (S$172M / S$3,125 ppr) and Delfi Orchard (S$439M / S$3,346 ppr). This is a testament of the stellar attributes of a development site within the Orchard locale which is highly sought after by developers riding on the next wave of rejuvenation.
“The Concorde Hotel & Shopping Centre has been a central part of Orchard Road for decades, and its redevelopment will usher in a new era of growth and revitalisation for the area. An incoming developer can leverage this site to create an iconic and dynamic space that anchors and accelerates the rejuvenation of Orchard Road. While the zoning is ‘Hotel’, the site is ideal for a mixed use and integrated development subject to approval by the Urban Redevelopment Authority (URA),” he adds.
There are no restrictions on foreign ownership. The public tender closing date will be 16th October 2024 at 3pm.
