Jiak Kim Street (D03)
On 5th Dec 2017, FRASERS Centrepoint Limited has emerged top in a keen contest of 10 bidders for a residential site in Jiak Kim Street, the former site of popular nightspot Zouk, at S$955.4 million. The 13,482 sqm site, with a maximum gross floor area of 51,231 sqm at Jiak Kim Street comes with commercial use on the first floor. FCL's bid for this site translates to S$1,732.55 per square foot per plot ratio (psf ppr). Estimate selling price between S$2,850 to S$2,950 psf.
The original site of what is arguably Singapore's best-known nightspot has been made available for developers to build up to 525 new homes but the developers must conserve the three warehouses there.
Nearby project Martin Modern at Martin Place, was bidded at S$1,239 psf on 1st July 2016. As of 5th Dec 2017, there are 213 units sold out of 450 units, at average S$2,247 psf.
The future development is within reach of all city's attractions and conveniences. The Central Business District at Raffles Place and Marina Bay, convention and exhibition hub at Suntec City and the shopping cum entertainment hub at Orchard Road are only a few minutes away.
The Land Parcel enjoys a waterfront view of the historic Singapore River with direct access to the river promenade accompanied by a good mix of retail, dining and entertainment options.
Given its prominent location within the heart of the Robertson Quay zone along Singapore River, the site offers an attractive opportunity to realize a quality development that will form part of a highly attractive cluster of waterfront developments along Singapore River.
The Land Parcel includes three conserved warehouses that were constructed around 1919. Warehouses along the Singapore River were integral facilities in entrepot trade. With its voluminous, high ceiling space, the warehouse has been adapted for various lifestyle uses since the 1990s.
The adaptive reuse of the voluminous warehouse space for lifestyle-related or other creative commercial uses will enhance the vibrancy and attractiveness of the development and strengthen the identity of the Roberson Quay Area as a lifestyle destination.
The site is easily accessible via the Central Expressway (CTE), the future Havelock and Great World MRT Stations along the upcoming Thomson East Coast Line.