It can be developed into a mixed residential-commercial property or a hotel.
Maxwell House, a 13-storey commercial building located at No. 20 Maxwell Road, is up for sale via public tender at a reserve price of $295m, announced property agency Cushman & Wakefield.
Maxwell House is built on a trapezoidal island plot with views from all 4 sides of the building. It has a site area of 3,883.45 sqm (41,801 sq ft approximately). Under the Master Plan 2019, the site is zoned “Commercial” of plot ratio 4.3.
The land rate comes at approximately $1,691 psf per plot ratio, assuming 80% of the total GFA is for residential use and the remaining 20% GFA for commercial use.
For a ‘hotel’ option, the land rate would increase to $1,998 psf per plot ratio, also inclusive of the differential premium and an estimated lease upgrading premium.
The tender for 20 Maxwell Road will close on Tuesday 12 November at 3 PM.
