The developer can thus maximise the potential of this site, with an eye on "national plans" to rejuvenate the Orchard Road precinct.
Frasers Property is paying $391.9 million, or $2,577 psf per plot ratio (psf ppr), for the rear plot of The Centrepoint, which will bring the group closer to full ownership of the Orchard Road property.
The tender price assumes full commercial use, a fresh 99-year tenure and intensification to a plot ratio of 5.6. The land betterment charge associated with the lease top-up and intensification is estimated at approximately $253.13 million.
