The Wilshire, a 20-unit residential development along Farrer Road, has been put up for en bloc sale by tender, carrying an indicative price of $98.07 million or around $1,525 psf ppr, revealed marketing agent Savills Singapore.
Built in the 1980s, the development is nestled on a 3,635.3 sq m site, which is zoned for residential use under the 2014 Master Plan with a gross plot ratio of 1.6.
Savills noted that the site may be “developed up to 12-storeys with an allowable gross floor area of 5,974.61 sq m”.
The Wilshire is a short walk to the Farrer Road MRT station and minutes’ drive to the Ayer Rajah and Pan Island Expressways. It is also near the Orchard Road shopping belt, the Botanic Gardens as well as the eateries and shopping amenities within the Dempsey Hill and Holland Village enclave.
Nearby schools include Nanyang Primary School and Raffles Girls Primary School, while other condominiums within the vicinity include the Pollen & Bleu, The Levelz, Waterfall Gardens, D’Leedon and Leedon Residence.
“We expect keen interest in The Wilshire due to its attractive location, affordable quantum attributed to its boutique plot size and the current strength of the collective sale market,” said Suzie Mok, Savills Singapore senior director of investment sales.
“In addition, this choice site would be extremely desirable to property developers given its close proximity to the mixed-used Government Land Sale Parcel in Holland Village that is currently up for tender. The neighbourhood is poised to enjoy the convenience of an upcoming mall and the amenities which will be the catalyst for potential capital value uplifts in the near future.”
The tender for The Wilshire will close on 25 January 2018.
This article was edited by Keshia Faculin.
