Dalvey Court is located close to Stevens MRT station and the Singapore Botanic Gardens. (Photo: Cushman & Wakefield)
Dalvey Court, a freehold nine-storey residential development at 28 Dalvey Estate in District 10, has been put up for en bloc sale with a reserve price of $160 million, revealed marketing agent Cushman & Wakefield on Monday (25 June).
This works out to a land rate of around $2,009 psf per plot ratio (psf ppr).
More: Developers’ En Bloc Appetite Diminishing: RHB
Completed in 1976, the 32-unit project sits on an approximately 44,165 sq ft site zoned residential under the 2014 Master Plan with a plot ratio of 1.6 and a 12-storey height limit.
Cushman & Wakefield noted that the winning developer could build up to 93 apartments with an average size of 753 sq ft per unit.
No development charge is payable for the site due to its high development baseline and no traffic impact study is required, the consultancy said.
Located near the Singapore Botanic Gardens, Dalvey Court is a short walk to Stevens MRT station on the Downtown Line. It is also close to various schools such as Singapore Chinese Girls’ School, St. Joseph’s Institution, Nanyang Primary School and Anglo-Chinese School.
“Despite being so close to the city, Dalvey Court’s proximity to Botanic Gardens ensures that the serenity and quiet surroundings of the estate is not compromised. The development is a rare gem and represents an opportunity for developers to conceptualise and create residences of distinction, befitting the prestige of this prime location,” said Cushman & Wakefield capital markets director Christina Sim.
The tender for Dalvey Court closes on 2 August.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com