Freehold residential building at Wilkie Road on the market for $9.2 mil

August 1, 2022

A freehold residential building at 62 Wilkie Road in prime District 9 will go on sale for $9.2 million on Aug 2. The property will be sold in a collective sale tender, and it is marketed by PropNex Realty.

The six-storey building comprises three duplex apartments that have a total strata area of 5,597 sq ft. The guide price translates to $1,644 psf on the strata area. The property was completed in 2003 and it is on a 2,542 sq ft site that is zoned for residential use, with a gross plot ratio of 2.1 under the latest Master Plan.

Due to its central location and proximity to the Bras Basah and Bencoolen areas, the property is close to six MRT stations, namely Dhoby Ghaut, Bencoolen, Little India, Rochor, Bras Basah, and Bugis. It is also close to the Orchard Road shopping belt.

“This collective sale presents an opportunity for investors to own a plot of land, with a small building of three apartments in the highly sought-after District 9 at an attractive price quantum,” says Tracy Goh, head of investment and collective sales at PropNex Realty.

She adds that it is ideal for multi-generational families who wish to live together under one roof. Investors will also find the building an attractive asset for its capital appreciation and rental income.

This collective sale tender will close on Sept 7.

Utilising EdgeProp's Landlens tool, in addition to nearby property transactions, it also shows recent enbloc transactions in the vicinity, such as Sophia Villa and Fairhaven in Nov 2020. Those developments were sold for $2,387 psf ppr and $1,724 psf ppr respectively.