In Oct 2020, Mediacorp's former Caldecott Broadcast Centre plot was offered for sale by Mediacorp via a public tender.
2 months later in Dec 2020, the land plot was successfully sold to an entity to be jointly owned by Perennial Real Estate Holdings and its chairman Kuok Khoon Hong, for $280.9m.
And in Jan 2022, Perennial Holdings announced its plans to redevelop the site into 15 Good Class Bungalows (GCBs), making it the first major 99-year leasehold GCB site to be launched.
Ariel view of the Former Mediacorp Broadcast Centre.
The former Mediacorp Broadcast Centre site is located in District 11, bounded by Andrew Road, Olive Road, John Road.
PRESS COVERAGE
20 Jan 2022
REAL estate and healthcare company Perennial Holdings is planning to redevelop the former Caldecott Broadcast Centre site into 15 Good Class Bungalows (GCBs), making it the first major 99-year leasehold GCB site to be launched.
The GCB plots will range from 15,070 sq ft to 250,801 sq ft. However, the larger plots could also be subdivided in the future to accommodate more GCBs, up to a maximum of 26 bungalows. The Urban Redevelopment Authority (URA) said the plots would have to be sold together with the GCBs.
Located in the prime District 11, the site is accessible from Andrew Road, John Road and Olive Road. However, owner-developer Perennial will work with the Land Transport Authority to widen vehicle carriageways as well as add new planting strips and pedestrian pathways. There will also be a new public park to connect the northern and southern parts of the estate.
PRESS COVERAGE
16 Dec 2020
AN ENTITY to be jointly owned by Perennial Real Estate Holdings and its chairman Kuok Khoon Hong has clinched Mediacorp's former Caldecott Broadcast Centre plot for S$280.9 million.
It is located at the heart of the Caldecott Hill Good Class Bungalow Area. Mediacorp has been granted an outline approval by the Urban Redevelopment Authority (URA) for a proposed site redevelopment into two-storey bungalows with a minimum land area of 800 square metres per house.
However, the buyer may explore other development options upon completion of the transaction, CBRE and Showsuite Consultancy, the marketing agents for the site, said on Tuesday.
BT understands that while the bungalow development is the base-case assumption that the buyer used in crafting its winning bid, it might potentially consider other uses, including developing a retirement village.
PRESS COVERAGE
14 Oct 2020
THE sprawling seven-hectare leasehold plot that used to house the iconic Caldecott Broadcast Centre has been offered for sale by Mediacorp via a public tender.
The gross land value for a proposed bungalow redevelopment on the site is expected to be more than S$400 million - including the differential premium (DP) and the lease upgrading premium (UP), said CBRE and Showsuite Consultancy.
This would translate to a land rate of around S$540 per square foot (psf), they noted in a joint statement on Wednesday.
Based on Mediacorp's architect's proposed scheme of 67 bungalows to be carved from the site, the land cost to a potential developer works out to some S$6 million per plot.
PRESS COVERAGE
10 Jun 2020
MEDIACORP may finally be getting ready to put up its former campus in Caldecott Hill for sale.
According to sources, the group recently conducted a request for proposal (RFP) exercise, inviting property consultants to provide marketing services to find a buyer for the sprawling site of slightly more than 752,000 square feet (sq ft).
Property consultants are understood to have made their submissions nearly three months ago.
When contacted, Mediacorp declined to comment.
The Business Times understands that the group has received advice from the planning authority that the property - bounded by Andrew Road, Olive Road and John Road - may be redeveloped into bungalows with plot sizes of at least 800 square metres (sq m), or 8,611 sq ft.