Two prime freehold sites in District 9 that are among the few remaining sizeable plots available in Cairnhill Road have been launched for sale by exclusive marketing agent CBRE on Tuesday (24 October).
These comprise a 19,800 sq ft plot in 67 Cairnhill Road and a 43,103 sq ft site in 69 Cairnhill Road known as Cairnhill Mansions, which has a guide price of $115 million and $362 million respectively. This works out to $2,225 psf per plot ratio and $2,101 psf per plot ratio.
“The total quantum of both sites is less than $500 million, which makes it extremely palatable in the current market. This is a premium location with no comparable competing sites currently available,” said CBRE’s Director for Capital Markets Galven Tan.
No development charge is payable for Cairnhill Mansions, while the successful buyer of 67 Cairnhill Road needs to fork out around $20.7 million to attain the permissible Gross Floor Area (GFA) of about 60,984 sq ft, including a 10 percent bonus balconies GFA.
Assuming an average unit size of 70 sq m, the smaller site could yield 80 homes, while the larger one could accommodate 228 dwellings.
At present, 67 Cairnhill Road is occupied by a one-storey house, whereas Cairnhill Mansions consists of 61 apartments. Both are a short walk from Orchard Road, while the Newton MRT station is only 400 metres away.
This article was edited by Keshia Faculin.