St Thomas Ville is located close to Orchard Road and the upcoming Great World MRT station. (Photo: JLL)
St Thomas Ville, a 23-unit residential development in District 9, has been put up for sale, with the owners expecting bids in excess of $58 million, revealed marketing agent JLL.
Located at 38 St Thomas Walk, the 12-storey development is built on a 11,407 sq ft site, which is zoned residential under the 2014 Master Plan with a gross plot ratio of 2.8 and a height limit of 36 storeys.
The freehold condo is a short walk to Great World City, the Orchard Road shopping district as well as the upcoming Great World MRT station on the Thomson-East Coast line.
It is also near various amenities including Robertson Quay, Boat Quay, Liang Court and Chinatown, as well as schools such as River Valley Primary School, the ISS International School and Chatsworth International School.
JLL noted that the asking price works out to $1,816 psf per plot ratio (psf ppr) or $1,754 psf ppr after taking into account the 10 percent bonus balcony area and the development charge of around $3.6 million.
The property is not subject to a pre-application feasibility study while the guidelines on minimum average size of 753 sq ft is also not applicable as it located within the Central Area. This gives potential investors “increased flexibility in designing a good mix of various unit sizes catering to its target buyers, subject to approval from the relevant authorities”.
“The site’s excellent locational attributes would appeal to small and mid-sized developers looking for smaller development plots in prime areas,” said Tan Hong Boon, regional director of capital markets at JLL Singapore.
The tender for St Thomas Ville will close on 10 September.