In-principle approval granted for ‘Hotel’ use for this prime freehold commercial redevelopment site
Singapore, 11 February 2025 – ETC (宜迪产业咨询公司) is relaunching the collective sale of United House, a rarely available prime freehold redevelopment site in Orchard Road. As the sole marketing agent, ETC invites all interested parties – local and foreign investors alike – to explore this exceptional opportunity.
The tender for United House will close on 9 April 2025 at 3.00pm.
Located within the bustling Orchard Road Shopping Belt, United House sits on a rectangular freehold plot of approximately 1,192.7 sq m. Under Master Plan 2019, the site is zoned ‘Commercial’ use with a plot ratio of 4.9 and a building height of up to 10 storeys.
The property has also obtained in-principle approval by the Urban Redevelopment Authority for ‘Hotel’ use with the same gross plot ratio of 4.9.
Furthermore, as United House falls outside of the areas where new strata subdivision of commercial space is restricted, the successful buyer has the flexibility to consider strata subdivision for the new development.
Transactions of strata office units in the Central district have gained momentum since 2023, reflected by the strong performance of Solitaire on Cecil which was fully sold after its launch and the sale of two office floors at Tong Building in Orchard Road that achieved a record price of close to S$5,000 per sq ft.
At a reserve price of S$166 million, this works out to a land rate of S$3,025 per sq ft per plot ratio for commercial redevelopment. For hotel redevelopment, the land rate will be S$3,318 per sq ft per plot ratio.
As a commercial property, there is no Additional Buyer’s Stamp Duty payable and restriction on foreign ownership.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory of ETC, says, “Freehold Orchard Road assets are scarce and tightly held by owners, given the area’s prestige as Singapore’s most coveted retail and lifestyle destination, making such opportunities highly sought-after for their enduring investment value. United House, therefore, offers a rare and exceptional opportunity for investors to acquire a commercial real estate – what’s more, at an affordable quantum – in the heart of the city’s prime shopping district.”
“With the added option strata subdivision, an astute investor can maximise the gross floor area and explore a strata sale of the new development. Alternatively, they can retain the invaluable freehold asset for capital appreciation, use it as a corporate office, or redevelop it into a hotel, office or commercial space. The multitude of possibilities makes this site a compelling opportunity for buyers seeking a value investment in Orchard Road,” continues Ms Swee.
In 2019, the government announced plans to revitalise the Orchard Road district by transforming the main shopping street into a “lifestyle destination”, where it will offer different themed lifestyle experiences and develop an urban green corridor which will reinvigorate pedestrian spaces. This ongoing initiative aims to enhance pedestrian connectivity among the four sub-precincts encompassing Tanglin, Orchard, Somerset and Dhoby Ghaut.
Ms Swee adds, “With several major redevelopment projects already underway in the prime retail belt, United House stands to benefit from this transformation which is set to draw more visitors and retail spending. Its prime city-centre location in a vibrant enclave with proximity to MRT stations also makes it an attractive prospect hotel development.”
United House boasts unparalleled exclusivity and convenience, with both Dhoby Ghaut MRT Interchange and Somerset MRT station within short walking distance. The subject property is surrounded by different lifestyle options and a diverse array of amenities, offering the best of convenience and entertainment experience.
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EDMUND TIE announces rebrand to ETC
Ushering in a new chapter of growth and transformation that coincides with its 30th anniversary
Singapore, 9 January 2025 – EDMUND TIE & Company (戴玉祥产业咨询公司), the trusted homegrown commercial real estate advisory firm in Singapore, is proud to unveil today its refreshed brand identity as ETC (宜迪产业咨询公司). The rebrand marks a pivotal milestone as the company celebrates its 30th anniversary, embracing a modern vision while staying rooted in its legacy of excellence.
The transition to ETC reflects the company’s evolution and agility in a rapidly changing real estate industry. With the tagline “Local at heart, global in mind”, ETC reinforces its commitment to combining deep local expertise with a forward-looking global perspective. This unique positioning enables the firm to deliver agile and innovative services, creating exceptional value for its clients.
Mr Desmond Sim (沈振伦), CEO of ETC, says, “The new name ETC is not new to many; it has long been a familiar abbreviation for Edmund Tie & Company among clients and staff. More importantly, the decision to officially adopt ETC as our new name was driven by our people. We conducted rounds of focus group discussions and open conversations with different teams – underscoring the priority we place on our people’s insights, voices and ideas. It’s this spirit of collaboration that defines and propels us forward, as we embrace this next phase of growth.”
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ETC’s new logo features a stylised ‘T’ that resembles a blooming tree, symbolising steady growth, resilience and deep-rooted connections within the communities it serves. The modern and streamlined design embodies the company’s core values: Enterprising spirit, Trustworthiness and Collaborative ethos – principles that will be the cornerstone of its operations. |
Commemorating 30 years of success
The rebrand coincides with ETC’s 30th anniversary, a celebration of its enduring legacy and transformative achievements. Since its founding in 1995, the company has been a trusted partner in the commercial real estate industry, delivering tailored real estate solutions with expertise, integrity and service excellence across Southeast Asia.
Reflecting on this milestone, Mr Sim says, “Celebrating 30 years is more than just a tribute to our journey; it’s also a bold declaration of our future ambitions. Our refreshed identity reflects how far we’ve come as one united ETC and highlights our intent to shape the future of real estate, both locally and regionally.”
With services spanning every phase of a real estate asset’s lifecycle – from advisory to investment, to management and divestment – ETC is uniquely positioned to navigate the industry’s complexities and deliver impactful solutions. Its strategic partnerships with like-minded businesses in Singapore and across Australia, China, the Philippines, the United Kingdom and Vietnam further enhance its ability to unlock new opportunities and deliver exceptional value.
As it commemorates its 30th anniversary and embarks on a bold new chapter of growth in 2025, ETC reaffirms its commitment to excellence, fostering collaboration and achieving remarkable milestones in partnership with its clients and stakeholders.