Bayfront Ventures, the special purpose company set up by Fragrance Group and World Class Land, the property development subsidiary of Aspial Corporation, plans to redevelop Keypoint into a commercial development with retail shops and offices, or an integrated development comprising retail shops, offices and residential units.
Keypoint is a 25-storey commercial development located at the junction of Beach Road and Jalan Sultan. The property comprises a three-storey podium, a 22-storey office tower and a fourstorey car park containing 227 car park lots.
The property has a leasehold tenure of 99 years starting 6 January 1976, and comes with a land area of 7,268.9 square metres. The site is zoned for commercial use and can potentially yield a commercial gross floor area of 426,421 square feet.
Bayfront Ventures acquired the site from British and Malayan Trustees, the trustee of Frasers Commercial Trust, for $360 million. Fragrance Group and WCL each has a 50% share in the special purpose company.
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