Public-listed educational service provider - Raffles Education Corporation Ltd has just put its corporate building and college city campus – known as ‘Raffles Education Square’ for sale. Property consultancy and investment sales specialists, Delasa (formerly known as Showsuite Consultancy), having been appointed by Raffles Education to advise on the proposed sale and market the property, has launched an Expression of Interest exercise.
The property is located at 51 Merchant Road, and it enjoys a direct overhead bridge connectivity to Singapore River. It has a land area measuring 27,669 sqft, a gross floor area of 77,445 sf and is zoned ‘Commercial’ in the 2019 Master Plan. The nearest MRT stations are Clarke Quay and Fort Canning which are both between 300 and 400 metres away.
The property comprises two sections – a main 4-storey building with two levels of basement carparks, annexed to two rows of conserved buildings. It was substantially refurbished eight years ago and currently houses Raffles Education’s corporate office and college campus.
The proposed sale is part of the company’s asset rationalisation plan.
The Business Times, 18 Aug 2021: Raffles Education Corp launches corporate building for sale
EdgeProp, 23 Aug 2021: Raffles Education Square on the market for $200 mil