Savills, as the exclusive marketing agent, is pleased to relaunch the public tender of The Beaumont– a freehold cul-de-sac residential site centrally located in Singapore’s most luxurious enclave in District 9. The site sits 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. This future redevelopment will offer exclusivity and tranquillity, with unblocked views of the Somerset area, as the site is located behind a row of shophouses along Devonshire Road. Ease of accessibility is unparalled with Somerset MRT Station a mere two-minutes’ walk away, and one stop from Dhoby Ghaut MRT Interchange and Orchard MRT Station.
Under the 2019 Master Plan, the 74,739 sq ft site is zoned ‘’Residential” and has an allowable gross plot ratio of 2.8 and 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 not required by LTA for the site. The site can be developed and be positioned as an ultra-luxurious development assuming the average size of the future units is approximately 2,500 sq. ft. each.
Additionally, the site enjoys easy access to a plethora of key amenities in the immediate vicinity. These 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, a 82 hectare tropical paradise.
Jeremy Lake, Managing Director, Investment Sales & Capital Markets, said: “Beaumont is an unusually large site (approx. 74,739sqft) which allows the developer to design an extremely prestigious and exclusive luxury development with generous landscaping and amenities right at Orchard Road`s doorstep. The height control of 36 storeys will ensure that the new units have unobstructed views towards Ngee Ann City and Orchard Residences. When the new development is launched for sale in 2 years time, it would be highly sought after by wealthy foreign buyers.
Galven Tan, Deputy Managing Director, Investment Sales & Capital Markets, shared: “The Beaumont is a rare elevated site nestled among the lush matured greenery. The demand for luxury apartments from foreign buyers remains strong, yet the supply of such best-in-class developments is depleting. Furthermore, developers recognise that supply for such prime sites, especially in Orchard, will remain highly constrained in the future as it is increasingly more difficult to secure owners’ mandate when the cost of replacement properties are high.”
The Guide Price is $468 million which works out to $2,448 per plot ratio. The development charge payable is approximately $44.36 million. The land price is further reduced to $2,366 per plot ratio after factoring in the seven percent bonus Gross Floor Area (GFA) for balconies. The development charge payable for the seven percent bonus GFA is about $17.3 million.
The tender closes on Tuesday, 20 September 2022, at 3pm.