United House has been relisted for a third collective sale tender, maintaining a reserve price of $166 million. This decision reflects the owner’s commitment to leveraging the property’s potential in the competitive real estate market.
Located on Kramat Lane in the vibrant Orchard Road area, United House is distinguished by its freehold status and comprises a ten-storey commercial building that occupies a land area of approximately 12,383 square feet. These attributes contribute to the property’s allure for developers and investors alike.
The redevelopment pricing is set at $3,045 per square foot per plot ratio (psf ppr) for commercial use, while the pricing for hotel use is pegged at $3,254 psf ppr, as outlined in the 2019 Urban Redevelopment Authority (URA) Master Plan. These figures present an enticing opportunity for potential buyers, suggesting that the property can be transformed into a profitable venture, whether as commercial space or a hotel.
The strategic pricing underscores the potential for significant returns on investment, particularly given the area’s reputation as a commercial hub.
The tender process for United House is scheduled with a deadline of July 1, 2025. This timeline follows its initial launch in October 2024 and subsequent relaunch in February 2025 after securing in-principle approval for hotel use. The approval is a critical factor that enhances the property’s appeal, as it opens the door for a variety of redevelopment options that could cater to the growing demand for hospitality in the region.
Such flexibility in redevelopment aligns with the broader trends in urban development, where mixed-use spaces are increasingly favored.
Situated within walking distance of the Dhoby Ghaut MRT Interchange, United House benefits from excellent connectivity, which is a significant advantage for any redevelopment project. The location provides easy access to various transportation options, attracting both local and international visitors.
This accessibility is critical for potential commercial or hospitality ventures, as it enhances foot traffic and visibility, key components in the success of any urban project.
Despite challenges in the real estate market, the maintenance of the reserve price at $166 million indicates a steadfast belief in the property’s value. The decision to relaunch the tender for a third time suggests that the owners are optimistic about attracting the right buyer who sees the potential in this prime location.
As urban landscapes continue to evolve, properties like United House that offer flexible development opportunities in strategic locations are likely to remain in high demand.
As the July 2025 deadline approaches, market observers will keenly watch how the tender unfolds. The collective sale process at United House highlights the ongoing interest in redevelopment opportunities within Singapore’s bustling Orchard Road area, and it remains to be seen how the market will respond to this latest offering.
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News Source: Edgeprop
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