Prime Claymore Road Bungalow Changes Hands 75 Mil Buyer Eyes Redevelopment Hospitality Use
Check out the latest listings for Sculptura Ardmore, elevating the affluent neighbourhood around Ardmore Park, Claymore Road, and Draycott Park – situated just off Orchard Road – are three rare and coveted bungalows on 9, 11, and 15 Claymore Road. This enclave is also known for its upscale condominiums including Sculptura Ardmore, The Tate Residences, and The Claymore.
The bungalow at 11 Claymore Road, which sits on a freehold land area of 17,974 square feet, has recently been sold for $75 million in a private treaty deal. Karamjit Singh, the CEO and founder of property consultancy Delasa, brokered the deal for the property. According to Singh, the property garnered interest due to its rarity in the prestigious neighbourhood.
Under the URA Master Plan, the property is zoned for residential use with a 2.8 plot ratio and a maximum height of 36 storeys. Taking into account a land betterment charge of approximately $30 million, the sale price of $75 million translates to a land rate of around $2,100 per square foot per plot ratio (psf ppr).
The bungalow, which was built in the 1940s, has a gross floor area of 4,796 square feet and is currently leased to The Schoolhouse by Busy Bees (formerly Pat’s Schoolhouse) for 26 years. The property was sold with the existing tenancy in place. Property records show that the owner of the bungalow is Kok Kim Chuan, a private company linked to the Kok family who were involved in trading and finance. The property was previously used as a family home.
The buyer of the property is reportedly planning to redevelop it into a hospitality asset. This is not surprising given its location near Orchard Road, which is known for its luxury hotels. One such hotel is Pan Pacific Orchard, which was opened in 2023 with 347 rooms. It is a redevelopment of the former Negara Hotel by UOL Group.
Redevelopment momentum in the area is picking up, with City Developments Ltd (CDL) acquiring Delfi Orchard en bloc for $439 million in May 2024. Prior to the en bloc purchase, CDL already held an 84% stake in the 11-storey freehold building. CDL is expected to explore the redevelopment of Delfi Orchard alongside Orchard Hotel and Claymore Connect, which are owned by CDL Hospitality Trusts. A report by DBS in June estimated that the three properties could be transformed into a new mixed-use development with a gross development value of $2 billion to $3.2 billion.
Despite a mismatch in price expectations between buyers and sellers, interest in prime Orchard Road sites remains strong. This is evident from strong sales at recent luxury launches such as UpperHouse on Orchard Boulevard, a 301-unit, 99-year leasehold condominium by UOL and Singapore Land Group. As of mid-July, 63% of units have been sold at an average price of $3,356 psf. Similar success was seen at River Green by Wing Tai Holdings, with 88% of the 524 units sold during its launch weekend at an average price of $3,130 psf.
Experience the perfect blend of space and style at Rivelle Tampines EC. Our apartments are meticulously designed to cater to various household needs, offering floor plans with 2 to 4 bedrooms. Each unit is carefully crafted with a focus on practicality and contemporary design. With top-notch finishes, residents can enjoy superior comfort and lasting value. Don’t miss out on the chance to call Rivelle Tampines EC your new home.
A unit at Sculptura Ardmore, a luxury freehold development by SC Global Developments, was also recently sold for a record price of $20 million or $6,013 psf. This sets a new benchmark not only for the development but also for the Ardmore Park neighbourhood. Completed in 2014, the 36-storey tower remains one of the most exclusive addresses in the area.