Built in the mid-1990s, the property comprises 17 units in two four-storey apartment blocks. (Photo: JLL)
Property consultancy JLL has launched 11 Balmoral Road in prime District 10 for collective sale at $75 million.
The asking price translates to a land rate of about $1,761 psf per plot ratio, inclusive of the development charge which is estimated to be around $10 million.
This is the development’s first collective sale attempt with 100 percent owners’ consent. As such, Strata Titles Board approval for the sale is not required.
Built in the mid-1990s, the property comprises 17 units in two four-storey apartment blocks.
The 30,200 sq ft site is zoned residential with a gross plot ratio of 1.6 under the 2014 Master Plan. It could be redeveloped into a high-end condominium of up to 12 storeys.
Subject to design and approval from the Urban Redevelopment Authority, a developer may potentially configure the allowable gross floor area of 48,320 sq ft up to a maximum of 64 apartments.
The site is a short walk from Newton MRT interchange, which connects to Orchard Road and the Botanic Gardens. Nearby schools include Singapore Chinese Girls’ School and Anglo-Chinese School (Primary).
“11 Balmoral Road is a compelling offering of a freehold site with manageable quantum. It is expected to attract a wide pool of developers due to its affordability and a very prime location,” said Tan Hong Boon, regional director at JLL.
The tender exercise closes on 29 November.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
