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Singapore Property News

9,999-year Guillemard site up for sale at indicative price of S$99m

A 9,999-year leasehold residential site in Guillemard Road/Jalan Molek has been put up for sale by a single, unnamed owner at an indicative price of S$99 million. The tender for the site, located at 1 to 21A Jalan Molek and 217 to 223A Guillemard Road will close on March 20 at 3pm.

Posted on 22-Feb-2018

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9,999-year Guillemard site up for sale at indicative price of S$99m

A 9,999-year leasehold residential site in Guillemard Road/Jalan Molek has been put up for sale by a single, unnamed owner at an indicative price of S$99 million. The tender for the site, located at 1 to 21A Jalan Molek and 217 to 223A Guillemard Road will close on March 20 at 3pm.

The site comprises 15 two-storey terrace houses that are within walking distance from the Mountbatten, Dakota and Aljunied MRT stations, said Cushman & Wakefield, which has been appointed as the exclusive marketing agent for the sale.

It is zoned "residential/institution" with a plot ratio of 2.8, with the terrace houses sitting on a land plot of about 37,131 sq ft, with a baseline gross floor area (GFA) of around 77,071 sq ft.

With the inclusion of a 10 per cent bonus balcony area, the maximum GFA will be increased to about 114,364 sq ft.

"At the indicative price of S$99 million with a development charge of about S$14.6 million to maximise the GFA, including the additional 10 per cent bonus balcony, the land rate for the 9,999-year site will come up to approximately S$993 per sq ft per plot ratio," said Shaun Poh, executive director of capital markets at Cushman & Wakefield.

Cushman & Wakefield said that the site can be redeveloped into a condominium project in an established residential enclave in the eastern part of Singapore that is within a 10-minute drive to the Central Business District and Orchard Road.

It added that provisional permission has already been obtained for the proposed erection of a part-five/part-eight-storey residential development with attic for a total of 137 units, as well as a car park at the first storey and basement, a communal swimming pool at the second storey, and a communal landscape roof at the sixth storey.

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