Trendale Tower Condo – Cairnhill Road Collective Sale 2023
Trendale Tower, a prime freehold site in the exclusive Cairnhill enclave, has been put up again for collective sale through public tender with a reserve price of S$168 million.
The property was previously put up for sale in August 2022 with a target price of S$178 million, but there were no takers when the bidding concluded in mid-September.
A previous effort to sell the development in May 2018 at a reserve price of around S$163.5 million also failed since no purchasers were found.
Based on the reserve price and after accounting for a 7% bonus gross floor area (GFA) for balconies, the land rate works out to S$2,257 psf ppr.
According to exclusive marketing agency Savills, the development fee for the 7% additional GFA is around S$7.6 million.
The 20-storey building at 79 Cairnhill Road has 18 apartments, each measuring 298 square meters.
The confirmed GFA of Trendale Tower is 72,691 sq ft, which equates to a gross plot ratio of around 3.35. It is situated on a parcel of land that is about 21,708 square feet.
The Land Transport Authority does not need a pre-application feasibility study for the site redevelopment of up to 103 units, Savills said.
Schools, including Anglo-Chinese School and EtonHouse International Pre-School, as well as the Newton MRT station, are all located within 1 kilometer of the en bloc site
According to Galven Tan of Savills, “A developer who buys this prime site will have the opportunity to curate a unique luxury residential development and be able to launch the project in 12 to 15 months’ time, when there may be virtually no competition in that segment of the market.”
The public tender for the Trendale Tower site will close on January 12, 2023, at 3 p.m.