Collective Sale of Newton View - Prime Freehold Residential Redevelopment Site for Sale by Tender

18 August 2010

Savills Singapore is pleased to announce the launch for collective sale by tender of Newton View - a prime freehold residential redevelopment site.

 

The 20-year old development, with a site area of about 37,577 sq. ft., is located at 26 Newton Road within the prime residential area of District 11. According to the Master Plan 2008, this site has been zoned as Residential with an allowable building height of not more than 99m. AMSL. Based on the 2.8 plot ratio, the permissible gross floor area will be around 105,215 sq. ft. or up to 115,737 sq. ft. inclusive of 10% allowance for balconies.

Not only is this site situated within an exclusive and popular residential enclave that has a very much sought after address, it is also very strategically located. To one side, it is just a few minutes walk from thriving retail malls like Novena Square and United Square. While on the other side lies the ever popular Newton Road hawker centre and Newton MRT which is just 1 bus stop away. This makes this site either 1 MRT station or a short drive away from ION Orchard and the popular Orchard Rd shopping belt.

This redevelopment site is also within 1 km of several good schools like the Anglo-Chinese School (Barker Road) and St. Joseph’s Institution (Junior), while the Singapore Chinese Girls School is slightly further away but within the 2 km radius. Prestigious clubs such as The Pines, the Tanglin and American Clubs are also a short drive away.

The site can be redeveloped into a high-rise condominium made up of about 80 units with an average size of around 1,300 sq. ft. each.

“The redevelopment site’s location - being within walking distance to the Newton and Novena MRT stations, malls, proximity to Orchard Road, good local and international schools, will prove a big draw to both end-users and investors,” said Steven Ming, Head of Investment Sales at Savills Singapore who is handling the sale.

“New developments in the area have been substantially sold reflecting the location’s desirability,” added Steven.Recent transactions at nearby L’viv were between S$2,346 to S$2,456 psf.

The Collective Sale of Newton View has an indicative guide price of between S$153 million and S$155 million or about S$1,460 to S$1,479 psf ppr respectively. There is also an estimated development charge payable of about S$582,000.

The collective sale tender for Newton View will close at 3pm on 30th of September 2010.

 
 

Key contacts

Steven Ming

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Executive Director, Investment Sales

SGX Centre 1, Singapore

+65 6415 3624

 

Michael Lim

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Corporate Communications Manager

SGX Centre 1, Singapore

+65 6415 7579