Beauty World Plaza up for collective sale once more for $165m
The mixed-use development site ‘offers redevelopment and asset enhancement potential’, says ETC.
Beauty World Plaza, a mixed-use development in Singapore, is being sold for a third time at $165 million, or $2,231 per square foot of gross floor area, according to real estate advisory firm ETC. The eight-story property, built in the early 1980s, occupies a 24,817 sq ft site and comprises 61 retail units and 30 residential flats.
With a 999-year leasehold and a gross plot ratio of 3 under the Urban Redevelopment Authority Master Plan 2025, the land zonation permits both commercial and residential development. ETC's head of investment advisory, Swee Shou Fern, suggests that the buyer could enhance the existing development or consider asset enhancement opportunities, including the potential for 108 serviced apartments in the residential component, which could be built with a minimum unit size of 35 sq m.
The property's close proximity to educational institutions makes it an attractive option for hospitality, serviced apartment, co-living, and other accommodation concepts catering to academia. Conducted through a public tender exercise, the sale closes on November 19, marking Beauty World Plaza's third attempt at a collective sale, all at the same reserve price.
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