The owners of the condominium, Beaufort on Nassim have set their property for an en bloc sale with an asking price of around S$222.68 million.
Base on the price tag, the land rate translates to S$3,508 psf ppr.
The condominium is aptly categorized under the 2014 Master Plan of URA as a residential use zone and comes with a 1.4 plot ratio.
Situated at 12 Nassim Road in the Bukit Timah, Grange Holland of Singapore, Beaufort on Nassim had been developed by Powerford PTE LTE (HKR International) and was completed in 2008.
This four-storey condominium sits on an estimated 45,344 square feet lot and comprises of 30 units, each having two to three bedrooms.
It is a residential condominium with spacious apartments and penthouses, the area of each ranges from 1,238 square feet to 3,692 square feet or 115 sq. m to 343 sq. m.
It also features a visible 65-meter wide frontage.
Within a short distance from this freehold property are several embassies, colonial bungalows (black-and-white), good class bungalows (GCB), and other condominiums like those of the Nassim and Nassim Park Residences.
The Orchard Road Shopping Belt, Botanic Gardens, central business district, and Dempsey Hill’s restaurants are also readily accessible from Beaufort on Nassim.
The prime freehold property is surrounded by Newton, Orchard, and Stevens MRT stations.
Beaufort on Nassim is also near well-known and highly respected educational institutions like those of ISS Elementary and Middle School, the Avondale Grammar School, Chinese International School, Singapore Chinese Girls’ Primary School, Anglo-Chinese School (Junior), and Anglo-Chinese School (Primary).
According to Suzie Mok, Investment Sales’ senior director of Savills Singapore, this tender will be the first en bloc sale of property along the Nassim Road since 2006, the last one being that of the collective sale of Nassim Park Residences in 2006.
Beaufort on Nassim surely offers a great opportunity for developers who are looking for a prime lot to develop, seldom would developers have this chance to get hold of prime land along the Nassim Road according to Ms. Mok.
She further reiterated that en bloc sale of low-density residential properties like this on the Nassim Road is surely very rare because most lots on this stretch are often owned by single stakeholders and are tightly held; thus, they are more often not for sale.
Miss Mok also added that with the recent surge in the sale of properties and transacted GCBs at great price tags within the vicinity, the premier neighborhood along the Nassim Road will surely get a boost in its market value.
The potential of the Beaufort on Nassim is great. It could be developed into a four-storey luxury condominium with a gross floor area of around 63,408 sq ft. or 5,890.82 sq m.
This public tender of Beaufort On Nassim will end on September 30th at 3 pm.