THE consortium behind GSH Plaza is launching more than 100 strata titled office units in the 28-storey Central Business District building.
The units will range in size from 480 to 1,700 square feet, with an average price of S$2,850 to S$3,500 per square foot.
GSH Plaza, formerly known as Equity Plaza, is majority owned by property developer GSH Corp. Minority shareholders in the project are TYJ Group, a private vehicle for GSH executive chairman Sam Goi, and Vibrant DB2, a joint vehicle by developers Vibrant Group and DB2 Group.
GSH Plaza comprises 259 strata office units in total, plus two floors of retail space for eight shops and 13 food and beverage outlets.
The announcement by GSH Corp on Monday confirms an earlier report in The Business Times last month that the building will be undergoing a massive refurbishment and be marketed as strata spaces for sale.
"This is a significant milestone for GSH as we launch our very first real estate project shortly after the group's transformation into a property development and hospitality company," said Mr Goi in a statement. "We have renamed it GSH Plaza because we plan to move GSH's corporate headquarters, from our current location at 11 Changi North Way, to GSH Plaza after its extensive refurbishment is completed."
GSH shares closed down 0.1 Singapore cent to 7.5 cents on Monday, while Vibrant stock was unchanged at 9.6 Singapore cents.
Source: Business Times, 10 Mar 2015