Balmoral Condominium - Prime Freehold Residential Redevelopment Site for Sale

2 August 2010

Savills Singapore is pleased to announce the launch for sale by tender the collective sale of a prime freehold residential redevelopment site, Balmoral Condominium, located in the prestigious District 10.

 

The 18-year old redevelopment site sits on approximately 57,007 sq. ft. of prime residential land located at 16 Balmoral Road. Subject to approval from the relevant authorities, the site which has a development baseline of 91,622 sq. ft. (8,512 sqm.), already exceeds the permissible plot ratio of 1.6 in the 2008 Master Plan, hence, no development charge is payable.

The site is located along Balmoral Road - an exclusive and popular address which is minutes drive to and from the Orchard Road Shopping Belt, Newton MRT Station, Balmoral Plaza and prestigious clubs such as The Pines and Tanglin Club. Balmoral Condominium is also within 1-kilometer radius of reputable and popular primary schools like the Anglo-Chinese School (Barker Road) and the Singapore Chinese Girls’ Primary School.

The redevelopment site can potentially accommodate 65 apartments averaging 1,300 sq. ft. each subject to a 12-storey height restriction. Units on the higher floors can enjoy the captivating views of Goodwood Hill.

“We expect strong interest for Balmoral Condominium due to the lack of choice residential plots in the prime districts. In addition, the Balmoral location has always been a prestigious and highly sought after residential address amongst local and foreign homebuyers. The adjoining high-end Volari development was fully sold at prices surpassing S$2,200 psf last year. We anticipate prices of high-end homes to continue to edge up,” said Suzie Mok, Director of Investment Project at Savills Singapore who is handling the sale.

The Collective Sale of Balmoral Condominium has an indicative guide price of between S$171 million to $175 million or about S$1,866 to S$1,910 psf ppr.

The tender for Balmoral Condominium will close at 3pm on 8th of September 2010.

 
 

Key contacts

Suzie Mok

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Director, Investment Project

SGX Centre 1, Singapore

+65 6415 3625

 

Michael Lim

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Corporate Communications Manager

SGX Centre 1, Singapore

+65 6415 7579