United House has been relaunched for collective sale, attracting renewed interest as it offers a prime opportunity for redevelopment. The property is being offered at a reserve price of $166 million, a figure that has remained consistent from previous tender attempts. This third collective sale tender highlights the ongoing potential of the site, which is situated in a strategic location in the 132 Sophia Road vicinity, one of Singapore’s most vibrant commercial and retail hubs.
Spanning approximately 12,383 square feet, United House is a freehold commercial building located at Kramat Lane. Its generous plot ratio of 4.9 allows for a significant amount of development potential, which can be maximized by the right developer. The property has garnered attention due to its suitability for transformation into a flagship or lifestyle boutique hotel, especially given its proximity to the Dhoby Ghaut MRT Interchange. This connection to public transport enhances the site’s attractiveness, making it an ideal candidate for redevelopment aimed at capturing the growing tourism and hospitality market in Singapore.
The exclusive marketing agent for this tender is ETC, who has highlighted the property’s potential following the initial sale launch in October 2024. However, the tender was withdrawn to confirm planning for hotel use, a move that has since received in-principle approval. This development is crucial, as it reassures potential buyers of the feasibility of their redevelopment plans. The approval for hotel use aligns with Singapore’s broader strategy of enhancing its hospitality offerings, especially in prime locations like 132 Sophia Road, where demand for hotel accommodations remains robust.
With a deadline set for July 1, 2025, interested parties have a defined timeframe in which to assess the opportunity and submit their bids. The relaunch of United House for collective sale is expected to attract a range of potential buyers, including major developers and investment firms looking to capitalize on the growing demand for quality hotel accommodations in Singapore.
The favorable market conditions, combined with the strategic location and the in-principle approval for hotel use, position United House as a highly sought-after asset in the competitive real estate landscape.
As the tender progresses, stakeholders will be closely monitoring the responses from the market. The interest in United House reflects the ongoing investment appeal of the 132 Sophia Road area, which continues to evolve as a premier destination for both tourists and locals alike.
The outcome of this collective sale could set a precedent for similar projects in the vicinity, influencing future development trends in one of Singapore’s key commercial districts.
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News Source: Edgeprop
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