Savills News

Collective Sale of Beaufort on Nassim

Prestigious residential plot for sale by tender

Savills Singapore is pleased to announce the launch for sale by tender, the collective sale of Beaufort On Nassim in prime District 10 at a minimum expected price of S$222.68 million which translates to a unit land rate of S$3,508 per sq ft per plot ratio. 26 out of 30 owners, representing 86 per cent of the development’s total share value and strata area, have given their consent to the sale.

Completed in 2008, the four-storey development occupies a site of approximately 4,212.6 sqm (or 45,344 sq ft). The freehold 30-unit condominium comprises a mix of two- three-bedroom apartments and penthouses spanning from 115 sqm to 343 sqm. Under the 2014 Master Plan, the site is zoned for residential use with a gross plot ratio of 1.4. Subject to approvals from the relevant authorities, the site may be developed into a luxury condominium of up to four-storey height limit with an approved gross floor area of 5,890.82 sq m (or 63,408 sq ft).

The site boasting a wide visible frontage of nearly 65m, is positioned in the most enviable Nassim Road enclave, arguably the priciest residential address hosting an exquisite collection of residences to some of the city’s most prominent and well-heeled individuals. The surrounds include embassies, luxurious high-end condominiums: Nassim Park Residences, Sage, The Nassim, elegant black and white colonial bungalows with an eclectic mix of the most prestigious Good Class Bungalows (GCBs) predominantly. The development offers captivating views of the cityscape and lush green of the GCBs in the immediate vicinity.

Beaufort on Nassim is a stroll to Singapore main shopping belt of Orchard Road and minutes’ drive to the Central Business District, UNESCO crowned Botanic Gardens, food and beverage (F&B) chill-outs at Dempsey Hill and elite international schools. Conveniently located near the Orchard MRT station, it will enjoy greater connectivity with the completion of the Orchard Boulevard and Napier MRT stations on the Thomson-East Coast Line.

Suzie Mok, Senior Director of Investment Sales at Savills, Singapore, handling the sale, commented: “Beaufort at Nassim offers developers an extremely rare opportunity to secure a plum land along Nassim Road. Low density residential plots on this short stretch are far and few between, further limited by single-stakeholders’ plots which are tightly held and unavailable for sale. This will be the first collective sale site in Nassim Road in 13 years since the sale of Nassim Park in 2006. The latest registered deal is the sale of a freehold site of 66,452 sq ft at No.14/14A Nassim Road via private treaty at S$218 million (S$2,744 per sq ft per plot ratio including development charge).”

“Great locational attributes, prestige and rare availability of such site present a good value offering to developers. With the recent resurgence of property purchases in the luxury home segment by a growing stream of wealthy foreign buyers and multiple GCBs transactions at benchmark price tags in the vicinity, this premier neighbourhood is poised to benefit from a land value boost”, she added.

The tender for Beaufort On Nassim will close at 3pm on 30 September 2019.

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