Bukit Timah, Duke's Road Freehold Site En Bloc Sale 2021

Bukit Timah, Duke’s Road Freehold Site En Bloc Sale 2021

With Developers busy hunting for new lands, owners of adjoining mixed-use sites at Duke’s Road and Bukit Timah Road, decided to put up their properties for collective sale with a reserve price set at S$62.5 million.

The freehold site at 551 to 553 Bukit Timah Road comprises two shop units and 3 walk-up residential apartments. It has a guide price of S$30 million and sits on a small area of 7,727 sq ft.

On the other hand, the plot of 6 to 8 Duke’s Road, additional of the driveway has a guide price of S$32.5 million. The building consists of 2 shops and 5 walk-up residential apartments and occupy an area of 8,752 square feet.

The combine freehold sites cover a total land area of 16,479 sq ft and it has a gross plot ratio of 3.0.

Under the Urban Redevelopment Authority’s Master Plan 2019, the land plot is zoned for residential and commercial use with maximum allowable height of 5 storeys.

JLL Singapore has been appointed for this collective sale.

The marketing agent said that all owners from the respective developments have consented towards the sale which means that no (STB) Strata Titles Board application for a sale order is needed.

The agent added that if 80% of GFA is use for residential and 20% for commercial use, the land rate will be arrived at S$1,658 psf ppr, the price includes of development charge.

If 7% bonus residential GFA for balconies and development charge that are factored in, the price will reduce to S$1,621 psf ppr.

Executive director of capital markets of JLL Singapore, Tan Hong Boon said that the freehold site offers the developers a great opportunity to redevelop into a new boutique freehold development.

Because the plot land is in central zone of Singapore, it can build over 40 residential units with average size of 85 square metres. Since it is zoned for mixed-use, retail units can be built on the ground floor.

Attractions Nearby Singapore Botanic Gardens

Prime Location of Bukit Timah & Duke’s Road En Bloc Site

The combine mixed-use redevelopment site of 551 to 553 Bukit Timah Road and 6 to 8 Duke’s Road is located at prime district 10 of Singapore.

It has excellent connectivity due to its proximity to Botanic Gardens MRT Interchange which served 2 lines: Circle Line (CCL) and the Downtown Line (DTL).

With this station nearby, it makes easier for people to access the development and at the same time, help them to reach different parts of Singapore. The best of all, it’s only located 300 metres away which require only few mins walk.

Another important aspect is that it drive human traffic to the shops or businesses.

With Circle Line and Downtown Line, one can reach several wonderful places like central business district, marina bay, stadium, Holland Village, Orchard Road and much more…

There are plenty of amenities that surround the en bloc site including eateries, supermarkets and cafes as well as convenient malls like Serene Centre, Coronation Plaza and Cluny Court. Botanic Gardens and Adam Road Food Centre can also be found in the vicinity.

The attractive redevelopment site is also close to some of the popular schools in Singapore such as St. Margaret’s Secondary School, Raffles Girls’ Primary School and Nanyang Primary School. These schools are within 1 kilometre radius.

Mr. Tan Hong Boon of JLL said that currently the new launch sales are doing quite well which will continue deplete the developer’s inventories, this will eventually prompt them to look for new lands.

Due to economic uncertainty, they will specifically lookout for small to mid-sized development sites.

He expects good responses and strong interests from small to mid-sized developers for the land plot of Bukit Timah Road and Duke’s Road.

The public tender exercise for the plots will close on March 4, 2021 at 2.30 pm.

Bukit Timah & Duke’s Road Site En Bloc Details

Bukit Timah, Duke's Road Freehold Site En Bloc Sale 2021 Pinterest
  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 16,479 sq ft (Combine)

  • Gross Plot Ratio: 3.0

  • Nearest MRT: Botanic Gardens Interchange

  • District: 10

  • Address: 551 to 553 Bukit Timah Road, 6 to 8 Duke’s Road

  • Marketing Agent: JLL Singapore

  • Reserve Price: S$62.5 million 

  • Tender Close: March 4, 2021

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