for $203 mil15 Scotts on Scotts Road, a nine-storey freehold commercial building, is up for sale via an expression of interest (EOI) exercise for a total of S$38.8 million. The building underwent a major upgrade in 2015 which included the upgrade of the common areas and the addition of a full-height curtain wall. The two strata units have an aggregate strata area of 6,437 sq ft and are both occupied by a luxury home interior décor brand and a premium spa facility.

Altura Executive Condominium, located at the eastern side of Bukit Batok West Avenue, is a 99-year leasehold development. It is expected to be one of the most sought-after developments in the area. This development will hold 375 executive condo units, which covers an area of 1.24 hectares. Altura EC is located near the Jurong Innovation District and Tengah Town. Moreover, it lies right next to the upcoming mixed-use development, Le Quest, by Qingjian Realty. Altura EC was sold by Qingjian Realty and Santarli Construction, with a bid of $266 million, approximately $662 per square foot per plot ratio.

Shaun Poh, Cushman & Wakefield’s executive director of capital markets, views this as an opportunity for investors and businesses looking to establish a presence in an attractive location. Noting the freehold status of the property, he emphasises that this allows for long-term value creation possibilities such as future redevelopment or enhancement. Additionally, the structure of the building plus the floor plates give tenants versatility when it comes to repositioning to accommodate changing consumer demands. 15 Scotts’s plot ratio of 4.9 under URA Master Plan 2019 is also yet to be maximised.

The EOI exercise for 15 Scotts will close on June 30 at 3pm.

On the lucrative retail market in Singapore, Poh states that the sale of the property “presents a unique chance” for investors. He further points out that as strata subdividing of commercial developments in Orchard Road isn’t often permitted, this makes the opportunity to own a piece of the prime real estate even more desirable.

Recent transactions at the 15 Scotts building have been successful. Check out the latest listings near 15 Scotts for more investment opportunities!