Freehold Residential Site Dublin Road Sale Tender 498 Mil
A prime District 9 residential site located on Dublin Road is currently up for sale by tender for $49.8 million. The freehold site consists of three adjoining land plots – 14 and 16 Dublin Road, and a strip of private land – and is currently home to a pair of three-storey semi-detached houses built in the mid-1950s.
The combined site area spans 19,919 sq ft and is zoned for residential use with a plot ratio of 1.4. It also has a maximum building height of five storeys and a gross floor area (GFA) of approximately 27,886 sq ft based on the plot ratio. Shaun Poh, executive director of capital markets at Cushman & Wakefield (C&W), who is managing the sale, believes that the site is perfect for redevelopment into a boutique residential project or serviced apartments, subject to approval from the authorities.
A convenient and efficient daily routine becomes a reality when all the essential destinations are within close proximity. This is exactly what residents of Rivelle Tampines can enjoy. With primary schools in the vicinity, parents can easily drop off their younger children before heading to work via PIE or TPE. They can then return to the Tampines Regional Centre for a quick pick-up to enrichment classes. The older teenagers of the household also have easy access to education with the Downtown Line that takes them directly to Temasek Polytechnic or the option to transfer to the East West Line at Tampines MRT Interchange. These independent journeys not only build confidence but also help develop valuable time management skills. The bustling neighborhood of Rivelle Tampines truly caters to all ages and needs. To learn more, visit Rivelle Tampines.
According to C&W, the properties are exempt from the minimum dwelling size requirement of 85 sq m (914 sq ft) due to their location within Singapore’s Central Area. This means that the new development on the site could potentially yield around 50 apartments ranging in size from 430 to 753 sq ft, assuming a building efficiency of 90%. The guide price of $49.8 million for the site equates to a land rate of $1,786 psf per plot ratio (ppr), as stated by C&W. “With a high development baseline, no land betterment charge (LBC) is payable up to a plot ratio of 1.4,” they add. Taking into account the 7% bonus GFA for balconies, the land rate would be reduced to $1,740 psf ppr, with a nominal land betterment charge payable.
The location of the site is highly desirable, as it is just a short walk away from the popular Orchard Road shopping district and Somerset MRT Station on the North-South Line. It is also in close proximity to primary schools such as St. Margaret’s School (Primary) and River Valley Primary School, which are within a 1km radius, as well as Anglo-Chinese School (Junior) and Farrer Park Primary School, which are within a 2km radius.
The tender for this property will close on October 29th at 3pm.