Beauty World Plaza offered for collective sale at $165m

The development sits on a land area of approximately 2,305.6 sq m.

Beauty World Plaza, a 999-year leasehold mixed-use development next to Beauty World MRT station, is up for collective sale at a guide price of $165m, according to sole agent ETC.

The eight-storey development sits on a land area of approximately 2,305.6 sq m (24,817 sq ft), comprising commercial shops on Levels 1 to 3, residential apartments on Levels 4 to 8 and an open terrace on Level 4.

The guide price works out to about $2,231 psf of gross floor area.

The site is zoned for commercial and residential use with a gross plot ratio of 3.0 under the URA Master Plan 2025.

The sale will be conducted via public tender, which closes on 19 November.

Outline Planning Permission for serviced apartments has been granted for the residential component of Beauty World Plaza, creating potential for approximately 108 keys based on a minimum unit size of 35 sq m.

Swee Shou Fern, head of investment advisory at ETC, said the in-principle planning approval opens up potential conversion of upper floors to serviced apartments or co-living residences.

The commercial podium can be converted for retail, F&B, lifestyle, enrichment centres or coworking space, subject to authorities’ approval, Swee said.

“This gives the successful buyer the flexibility to consider a strategy that best aligns with their portfolio or investment objective,” she added.

The plaza is near tertiary and international educational institutions, and primary schools. It is also connected to other areas through Upper Bukit Timah Road and the Pan Island Expressway.

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