Singapore’s largest broadcaster, Mediacorp, has sold the sprawling site that formerly housed the Caldecott Broadcast Centre in Andrew Road for S$280.9 million, according to real estate consultants CBRE and Showsuite Consultancy.

The 752,015 sq ft site served as the company’s broadcast hub for more than six decades until 2015, when Mediacorp relocated to its current location in Mediapolis in one-north.

The site was sold to PRE 10, jointly owned by Perennial Real Estate Holdings and its chairman, Kuok Khoon Hong.

The sale took place via a public tender exercise.

The 99-year leasehold island site currently has a balance lease term of 73 years. It 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 sq m per house.

PRE 10, may, however, explore development options upon completion of the transaction, said CBRE and Showsuite Consultancy.