Singapore Shopping Centre at Dhoby Ghaut is for sale with a reserve price of $255 million.

Located opposite Dhoby Ghaut MRT, the seven-storey retail and office development spans a land area of 2449sqm.

The development also has a “prominent triple-road frontage onto Clemenceau Avenue, Penang Road and Penang Lane”, according to marketing agent SRI.

“The area is poised for a major rejuvenation with the redevelopment of park mall just across the street,” said Andy Gan, head of investment sales at SRI.

According to SRI MD Tony Koe, city authorities plan to pedestrianise a portion of Orchard Road as well as to connect green spaces at the Dhoby Ghaut Green, Istana Park and Plaza Singapura’s open space.

The tender will close on September 9.