New Reporter
30-09-23, 14:10
District 9 residential development site for sale at S$95 million guide price
Sep 28, 2023
https://i.imgur.com/rrwXZ1z.jpg
The site at 11 Claymore Road is situated about 100 metres away from Orchard Road.
PHOTO: SAVILLS SINGAPORE
A FREEHOLD residential site spanning 17,974 square feet (sq ft) in District 9 is up for sale by public tender at the guide price of S$95 million.
On Thursday (Sep 28), exclusive marketing agent Savills Singapore said that this works out to S$2,839 per square foot per plot ratio (psf ppr).
This is after factoring in a 7 per cent bonus gross floor area (GFA) and a land betterment charge of about S$57.8 million.
Located at 11 Claymore Road, the plot is situated about 100 m away from Orchard Road and has an allowable gross plot ratio of 2.8 under the Urban Redevelopment Authority’s (URA) 2019 master plan. It also has a height control of up to 36 storeys.
Based on URA’s planning parameters, Savills said, the new development can have a total GFA of 53,849 sq ft, inclusive of the 7 per cent bonus GFA for balconies.
A pre-application feasibility study will not be required by the Land Transport Authority for up to 66 apartment units.
“Residential sites of this size and in this super prime location are very rarely for sale,” said Jeremy Lake, Savills’ managing director for investment sales and capital markets.
Beyond developers, Lake added, the site is ideal for an “ultra-high-net-worth” family to design and build their own development to stay in, rather than buy multiple apartments in a large development from a developer.
“We have been in touch with buyers like this before when marketing other sites, but those sites were too large,” said Lake.
The tender for 11 Claymore Road closes on Nov 8 at 3 pm.
While the site’s vendor was not named, Savills described it as a private company who has owned the property for more than 50 years.
In 2007, The Business Times reported that the same site was owned by a local investment company controlled by a family named Kok, who was then looking to sell the property at S$2,815 psf ppr.
https://www.businesstimes.com.sg/property/district-9-residential-development-site-sale-s95-million-guide-price
Sep 28, 2023
https://i.imgur.com/rrwXZ1z.jpg
The site at 11 Claymore Road is situated about 100 metres away from Orchard Road.
PHOTO: SAVILLS SINGAPORE
A FREEHOLD residential site spanning 17,974 square feet (sq ft) in District 9 is up for sale by public tender at the guide price of S$95 million.
On Thursday (Sep 28), exclusive marketing agent Savills Singapore said that this works out to S$2,839 per square foot per plot ratio (psf ppr).
This is after factoring in a 7 per cent bonus gross floor area (GFA) and a land betterment charge of about S$57.8 million.
Located at 11 Claymore Road, the plot is situated about 100 m away from Orchard Road and has an allowable gross plot ratio of 2.8 under the Urban Redevelopment Authority’s (URA) 2019 master plan. It also has a height control of up to 36 storeys.
Based on URA’s planning parameters, Savills said, the new development can have a total GFA of 53,849 sq ft, inclusive of the 7 per cent bonus GFA for balconies.
A pre-application feasibility study will not be required by the Land Transport Authority for up to 66 apartment units.
“Residential sites of this size and in this super prime location are very rarely for sale,” said Jeremy Lake, Savills’ managing director for investment sales and capital markets.
Beyond developers, Lake added, the site is ideal for an “ultra-high-net-worth” family to design and build their own development to stay in, rather than buy multiple apartments in a large development from a developer.
“We have been in touch with buyers like this before when marketing other sites, but those sites were too large,” said Lake.
The tender for 11 Claymore Road closes on Nov 8 at 3 pm.
While the site’s vendor was not named, Savills described it as a private company who has owned the property for more than 50 years.
In 2007, The Business Times reported that the same site was owned by a local investment company controlled by a family named Kok, who was then looking to sell the property at S$2,815 psf ppr.
https://www.businesstimes.com.sg/property/district-9-residential-development-site-sale-s95-million-guide-price