9 December 2021 – Savills, as the exclusive marketing agent, is pleased to launch the public tender of The Beaumont– a freehold cul-de-sac residential site sitting opposite TripleOne Somerset in the heart of the affluent Orchard Road residential area.
Located at 145 & 147 Devonshire Road, The Beaumont consists of a five-storey and a ten-storey tower. The future redevelopment will have unblocked view towards the Somerset area as the site is located behind a row of shophouses along Devonshire Road. The Beaumont is located at the end of an exclusive cul-de-sac which offers exclusivity and tranquility. Ease of accessibility is unparalled, with Somerset MRT station located a mere two-minutes' walk away.
Under the 2019 Master Plan, the 74,739 sq ft site is zoned ‘’Residential’’ with an allowable gross plot ratio of 2.8 and has a height control of up to 36-storeys. Verified by the authorities, the Development Baseline is approximately 171,792 sq ft. A pre-application feasibility study is also not required by LTA for the site redevelopment up to 277 units (average 70 sqm).
Additionally, the site enjoys easy access to a plethora of amenities in the immediate vicinity. Key amenities include renowned medical facilities like Mount Elizabeth Hospital, Camden Medical and Paragon Medical, exclusive private clubs such as Tanglin Club and The American Club, and Singapore Botanic Gardens, an 82hectare of tropical paradise. Established and reputable educational institutions, such as River Valley Primary, ISS International School and Chatsworth International School, are within 1km of the site while Anglo-Chinese School (Junior) and Eton House international School are within 2km of the site.
Centrally located in Singapore’s most luxurious residential enclave in district 9, the site is seamlessly connected with Somerset Road MRT station a mere 2 minutes’ walk away. The site is also one MRT stop away from Dhoby Ghaut MRT Interchange and Orchard MRT Station. Dhoby Ghaut MRT Interchange, connects three major train networks in Singapore, giving direct access to places of attraction such as Habourfront, Bugis and Fort Canning. As one of the stations on the Thomson-East Coast Line, Orchard Road MRT Station will be an Interchange Station when it comes into operation in 2022. With the Thomson-East Coast Line slated to complete in 2025, the site will benefit from the added connectivity to the CBD, North and East. Botanic Gardens and Gardens by the Bay will be two MRT stops away. Other parts of Singapore are just a short drive away via major arterial roads and expressways such as Orchard Road, Cairnhill Road and Centre Expressway.
The Guide Price is $478 million which works out to $2,496 per plot ratio. The development charge payable is approximately $44.36 million. The land price is further reduced to $2,410 per plot ratio after factoring in the 7 per cent bonus GFA for balconies. The development charge payable for the 7 per cent bonus GFA is about $17.3 million.
Jeremy Lake, Managing Director, Investment Sales & Capital Markets , said: “During this pandemic, Singapore has shown resilience and it remains a gateway to the Southeast Asian economy. Singapore continues to attract talents and foreign direct investments due to its economic stability. High-end Luxury Residential projects have benefitted with the inflow of such capital and we continue to see growing interest from local high net worth individuals who are purchasing such properties for their own stay.”
Galven Tan, Deputy Managing Director, Investment Sales & Capital Markets , shared: “The Beaumont is a rare elevated site nestled among the lush matured greenery. In our recent engagement with developers, the demand for sites such as The Beaumont with unique attributes that facilitates the design of a ultra luxurious development is strong as developers have gradually sold down on such inventory.”
The tender closes on Thursday, 20 January 2022, at 3pm.