98-98E Upper East Coast Road Sold En Bloc for $14.128m

Freehold Siglap redevelopment site marketed by PropNex Realty changes hands at its full $14.128 million guide price

A freehold residential site at 98-98E Upper East Coast Road has been successfully sold en bloc for $14.128 million, marking a positive outcome for the collective sale in Singapore’s sought after Siglap enclave.

The transaction was completed on September 2026, with the final sale price matching the property’s original guide price of $14.128 million.

PropNex Realty, which marketed the collective sale, has chosen not to disclose the identity of the buyer.

Located in District 15, the property occupies a prominent Upper East Coast Road site with redevelopment possibilities ranging from a boutique apartment project to landed housing, subject to approval from the relevant authorities.

The successful sale follows the owners securing the required 80 percent majority consent before the property was brought to market.

The original collective sale offering highlighted its freehold tenure, residential zoning, approximately 820.3 sqm land area and redevelopment flexibility.

The $14.128 million transaction represents the same value at which the property was initially launched for collective sale.

For owners, the completed transaction brings the collective sale process to a successful milestone.

For the new owner, the acquisition provides a relatively rare opportunity to control a freehold redevelopment site within the established Siglap and East Coast residential neighbourhood.

The site was subsequently launched with a guide price of $14.128 million, giving prospective purchasers the opportunity to assess several possible redevelopment configurations.

With the property now sold at the original guide price, the transaction completes an important stage of the collective sale journey.

Tracy Goh, Head of Capital Markets at PropNex Realty said the site attracted strong interest, with several developers approaching her with various proposals. After considering the offers received, the sellers ultimately accepted the proposal they regarded as the most attractive overall proposition.

She added that the site’s location in the established Siglap and East Coast enclave, together with its accessibility to major transport links and lifestyle amenities, enhanced its overall appeal.

The opportunity to explore landed housing redevelopment also gave the purchaser greater flexibility in considering the site’s future potential, subject to the relevant planning approvals.

At the $14.128 million sale price, the original marketing exercise indicated a land rate of approximately $1,068 per square foot per plot ratio based on the potential gross floor area together with bonus balcony space for an apartment redevelopment.

For a landed housing redevelopment scenario, the estimated land rate was approximately $1,600 per square foot based on land area.

Another notable feature highlighted during the collective sale campaign was that no land betterment charge was expected to be payable due to the property’s high development baseline.

These attributes offered the purchaser flexibility when considering how the land could potentially be repositioned for future residential use.

Rather than pursuing the apartment redevelopment option previously considered for the site, the buyer has decided to move forward with plans for a row of terrace houses.

The site’s approximately 38 metre frontage provides useful design flexibility for a landed housing scheme and supports the creation of multiple terrace homes within the development.

✨ Proposed redevelopment as a row of terrace houses
✨ Freehold landed housing opportunity in District 15
✨ Approximately 38 metres of frontage for greater design flexibility
✨ Located within the established Siglap and East Coast residential enclave

The decision reflects the buyer’s preference for landed residential development and allows the site to capitalize on continued demand for freehold landed homes in the East Coast area.

The final configuration and number of terrace houses will remain subject to the necessary planning and regulatory approvals.

Location remains one of the strongest attributes of 98-98E Upper East Coast Road.

The freehold property is within walking distance of Siglap MRT Station TE28 on the Thomson East Coast Line, improving public transport accessibility for residents in the surrounding neighbourhood.

The MRT connection provides convenient access towards central Singapore, while motorists can use the nearby East Coast Parkway for journeys towards the Central Business District, Changi Airport and other parts of the island.

For future residents, this combination of rail connectivity and expressway access offers the convenience of urban living while retaining the more relaxed residential character associated with the East Coast.

Beyond connectivity, Siglap is widely associated with the lifestyle that makes Singapore’s East Coast such an attractive residential destination.

Residents can enjoy access to East Coast Park, where cycling paths, waterfront spaces and recreational facilities provide a welcome contrast to the city environment.

Shopping and dining options are also readily available around Parkway Parade and throughout the Upper East Coast Road and Siglap areas.

The surrounding neighbourhood offers a broad mix of cafes, restaurants and everyday conveniences, making the location suitable for residents who value both accessibility and lifestyle.

🌴 East Coast Park for waterfront recreation and outdoor activities

🛍️ Parkway Parade for retail, dining and everyday necessities

☕ Siglap neighbourhood for cafes and casual dining

🍽️ East Coast Road for its established food and lifestyle scene

🎓 Established Schools Within the East Coast Area

Families considering the East Coast also benefit from the presence of several established educational institutions in the wider neighbourhood.

Schools highlighted in the original collective sale material include Victoria Junior College, Victoria School, Temasek Primary School and Temasek Junior College.

Their presence adds another layer of residential appeal to an area already known for its transport links, recreation and mature amenities.

The surrounding landed housing market has also recorded notable transactions.

A recent transaction at 92B Upper East Coast Road provides a useful indication of landed property values in the surrounding area.

The newly completed semi-detached home changed hands at an estimated $2,789 per sq ft of land, with the property sitting on a land parcel of approximately 3,979 sq ft.

The deal reflects the premium that buyers are prepared to pay for newly built landed homes within the established Upper East Coast and District 15 residential enclave.

✨ A New Chapter for 98-98E Upper East Coast Road

The successful $14.128 million en bloc sale of 98-98E Upper East Coast Road brings the collective sale exercise to completion and places the freehold Siglap site under new ownership.

What eventually emerges on the site will depend on the new owner’s plans and approvals from the relevant authorities.

For future redevelopment news and updates on 98-98E Upper East Coast Road, prospective homebuyers will have to stay tuned for the latest announcements on the site’s next chapter.

🏷️ Status: Sold

💰 Final Sale Price: S$14.128 Million

📅 Sale Date: September 2026

🏡 Tenure: Freehold

📐 Land Size: Approximately 820.3 sqm

📊 Gross Plot Ratio: 1.4

📏 Frontage: Approximately 38 metres

📍 Address: 98-98E Upper East Coast Road

🚆 Nearby MRT: Siglap MRT Station TE28

🌏 District: 15

🤝 Marketing Agent: PropNex Realty