Wednesday, April 19, 2006
Robinson Rd office block to go residential
(SINGAPORE) Another ageing CBD office block looks set to make way for homes. BT understands that SingTel is likely to sell 71 Robinson Road - which houses Robinson Post Office - after securing provisional permission to redevelop the property into a 51-storey project.
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| From office to homes: SingTel has obtained provisional permission to redevelop the CBD site |
Provisional approval has been granted for 315 apartments on the upper 44 storeys, which will be above a six-storey carpark podium and one level of commercial space.
The commercial space is expected to be at street level. The plot ratio - the ratio of potential gross floor area to land area - approved is 11.2. This means the project can be built up to a gross floor area of 274,746 sq ft - a significant enhancement from the existing 99,383 sq ft.
Approval is subject to the site being rezoned from commercial use to residential with commercial use on the first storey. A development charge will be payable to the state in exchange for the right to develop a bigger project on the site.
In addition, the successful developer is expected to apply to the authorities to top up the 24,531 sq ft site's lease from the remaining 45 years to the original 99 years.
The seven-storey building, formerly known as Crosby House, is at the corner of Robinson Road and McCallum Street.
Other ageing office blocks expected to make way for homes include NatWest Centre and Asia Chambers - both in McCallum Street - 1 Shenton Way and the HMC Building in Mistri Road.
SingTel is expected to put up 71 Robinson Road for sale in line with its policy of divesting non-core property to redeploy the resources to its core telco business.
In February, it sold a former telephone exchange in Old Holland Road for $30 million.
Tenders have closed for two sites in West Coast and Hillcrest roads.
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// posted by Shajahan @ 10:34 AM 