Taipei Station’s elite commercial land is put up for public auction, with an area of 106.78 square meters. The bid opening date is set for November 16th.

There is very little developable land around Taipei Main Station. (File photo, provided by Yongqing Real Estate Group)

In recent years, driven by policies for redevelopment of endangered elderly people and the Western District Gateway Plan, land assets with development potential in the Taipei Station business district have attracted market attention. Savills was entrusted to handle the public auction of Taipei Main Station's elite commercial land. The target is located at Section 1, Chongqing South Road, Zhongzheng District, Taipei City. It is only 300 meters away from the Z10 entrance and exit of the underground shopping mall in front of the station. The site area is 106.78 square meters, and the above-ground building area is 320.11 square meters. The land use zoning is the fourth commercial zone. The bid opening date is November 16 this year.

According to statistics from the Ministry of the Interior, Taipei City has approved a total of 156 elderly care cases from 2024 to August this year, mainly concentrated in areas with early development such as Da'an District, Shilin District and Zhongzheng District. Among them, CNR Commercial District has approved 5 cases of endangerment for the elderly in the past three years. The base area ranges from 70 square meters to 400 square meters, concentrated in the section of Chongqing South Road and Nanyang Street.

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Two of them have obtained construction licenses. The site sizes are 72 square meters and 152 square meters respectively. They are currently planned as high-quality residential products, with an area of about 12 to 27 square meters and a layout of 1 to 3 bedrooms. The pre-sale unit price is about 1.4 million yuan per square meter.

Savills said that the Taipei Station business district is a mature commercial core area in Taipei City. There is a high proportion of old buildings in the area, and developable land is scarce. The development of new projects mostly relies on the redevelopment mechanism of dilapidated old buildings. According to statistics, from 2024 to 2026, the number of transactions in CNR Business District will reach 12, with a total transaction amount of 5 billion yuan. The transaction hot areas are mainly concentrated in Nanyang Street, Xinyang Street and Boai Road.

The latest transaction was a three-story building on Boai Road that was sold for NT$800 million in June this year. The land area is about 81 square meters. The unit price of the land is about NT$9.76 million. It was acquired by a construction company. In addition, there are also asset companies that have successively purchased 7 Toitian buildings in the CNR business district and planned to rebuild and develop them. The total amount reached 1.19 billion yuan. The total land area acquired is about 243 square meters. Several of the Toitian buildings have been applied for redevelopment in dilapidated buildings. Construction licenses have been applied for in August 2026. This also reflects that developers or asset companies continue to pay attention to CNR development opportunities.

Chen Yihong, general manager of Savills, who is in charge of the auction, said that with the completion of many major construction projects in the Western District Gateway Project, the Taipei Station business district is ushering in a new wave of development opportunities. Target developments such as Taipei Double Star Building C1 and Haiyue International Commercial Building, which are expected to be completed in 2027, will continue to inject commercial, office and tourist functions into the CNR business district. This will not only help enhance the momentum of the overall business district, but also drive the growth of surrounding commercial activities and people flow, further strengthening the status of the Taipei Station business district as the gateway to the capital and the core business district. The spillover effect is also expected to drive the continued advancement of reconstruction and development in surrounding cities and dilapidated areas.

The case being auctioned this time is located in the core area of CNR Business District, 20 meters away from a section of Chongqing South Road, with a site area of 106.78 pings and an above-ground building area of 320.11 pings. The land use zoning is the fourth type of commercial district, and the statutory coverage rate is and floor area ratio are 75% and 800% respectively. The property rights are single and the site is well-organized. The 100 square meters of land is ready for immediate development, which is quite rare in the CNR area. In the future, products such as high-quality residences, business travel, and office space can be planned through the redevelopment of dilapidated buildings.