JLL has launched Roxy Square Shopping Center/Grand Mercure Roxy Hotel for collective sale by tender. The freehold, mixed-use development in Singapore is up for sale at a minimum price of $1.25 billion.
Built in three phrases from the early 1980s to 2000, Roxy Square comprises 296 shops, 26 apartments and the Grand Mercure Roxy Hotel’s 576 rooms. The collective sale site has triple road frontages along East Coast Road, Marine Parade Road and Brooke Road. More than 80 percent of the owners have consented to the collective sale at the minimum price. Dentons Rodyk & Davidson LLP are the appointed lawyers acting for consenting owners of the development.
Under the 2019 Master Plan by the Urban Redevelopment Authority, the site is partially zoned as “commercial & residential” with a gross plot ratio of 3.0 along East Coast Road. It is also partially zoned as “hotel” fronting Marine Parade Road.
Based on a recent planning advice from the Urban Redevel
