With 2 recent prime sites sold in the collective sale market, the owners of The Bayron condo decided put their property for sale via public tender.
The reserve price has been set at $376 million and CBRE Singapore was appointed as their exclusive marketing agent.
Base on the reserve price, the land rate for the freehold plot is about $2,377 psf ppr.
Including an additional 7 per cent bonus gross floor area (GFA) for balconies, the land price will reduce to S$2,287 psf ppr.
The Bayron condo comprises of 96 units that spread over 2 residential blocks and hold dual addresses at 49 Saint Thomas Walk and 13 Devonshire Road.
It sits on an area of 56,481 sq ft and has an existing gross floor area (GFA) of around 159,892 sq ft.
Under the 2019 URA Master Plan, the prime site has been zoned for “Residential” use and has a gross plot ratio of 2.8. The maximum allowable height is 36 storeys.
The elevated prime site enjoys high visibility and has 2 frontage facing Devonshire Road and Saint Thomas Walk.
According to CBRE, the freehold site can be redeveloped into a new residential project with a total of 220 apartments, averaging 66 sq m in size.
Recent reply from URA stated that the site has no development charge payable due to the high development baseline.