Frasers Property (and together with its subsidiaries, the “Group”), through its wholly owned subsidiary, Frasers Property Cuppage Pte. Ltd., has today been awarded the collective sale tender for the leasehold rear plot at The Centrepoint for a consideration of S$391.9 million, consolidating its ownership of the seven-storey landmark property on Singapore’s iconic Orchard Road shopping belt. The tender price translates to a land rate of approximately S$2,577 per square foot per plot ratio (psf ppr) after including lease top-ups and any land betterment charge payable. 

The leasehold rear plot forms part of The Centrepoint at 176A Orchard Road and comprises 66 retail units and 66 residential apartments under Management Corporation Strata Title (MCST) Plan No. 1304. This strategic acquisition further strengthens Frasers Property’s position in Singapore’s iconic shopping district and its ability to maximise the potential of this well-located site, in line with national plans to rejuvenate the Orchard Road precinct.

Completed in 1983, The Centrepoint comprises two components: a freehold front plot and a leasehold rear plot. Prior to the collective sale for the rear plot, Frasers Property already held a majority stake in it, owning over 52% of the units by strata area. Frasers Property is also the majority shareholder in the freehold front plot, owning about 96% of the units by strata area. 

Frasers Property has a longstanding presence in Orchard Road, with The Centrepoint as its first asset. It also has full ownership of 51 Cuppage Road, a 10-storey office building directly linked to The Centrepoint. 

Ms Soon Su Lin, Chief Executive Officer, Frasers Property Singapore, said: “We are pleased to strengthen our ownership of The Centrepoint. This gives us greater flexibility to unlock the site’s long-term potential, including assessing broader rejuvenation plans for the area. In the meantime, it remains business as usual at The Centrepoint, where we continue to enhance the mall’s retail offerings and organise year-long marketing activities to attract shoppers to the mall.”

With its prominent main-street frontage along the Orchard Road belt and direct link to Somerset MRT station, The Centrepoint attracts healthy shopper traffic, maintaining a high occupancy rate of about 98%¹. Its retail component, which comprises 66 retail strata units on the leasehold plot and 151 retail strata units on the freehold plot, continues to operate as usual. The mall remains a key contributor to Frasers Property’s retail portfolio in Singapore.

The completion of the acquisition is subject to the obtaining of a sale order approving the collective sale or receipt of consent from all subsidiary proprietors to the sale.