Freehold property at Wilkie Road relaunched for collective sale at S$10M guide price
The property was first launched for collective sale in November 2022, and the tender had closed without any bids.
SINGAPORE – A freehold residential site at 64 Wilkie Road has been relaunched for collective sale via tender on Thursday (6 April) at a reduced guide price of S$10 million.
According to a statement by PropNex, the marketing agent of the property, that translates to a land price of S$1,348 psf per plot ratio (psf ppr), including a seven per cent balcony space and land betterment charge (LBC).
The property was first launched for collective sale jointly with an adjacent site at 62 Wilkie for S$19.5 million in November 2022. The tender had closed without any bids.
Currently, the plot at 64 Wilkie Road houses five residential strata units. The building sits on a site spanning 3,306 sq ft, which is zoned for residential use with a gross plot ratio of 2.1, under the URA Master Plan 2019.
Wilkie Road is within walking distance to several MRT stations, such as Dhoby Ghaut, Bencoolen, Little India, Rochor, Bras Basah and Bugis MRT stations. These stations provide connectivity to five different MRT lines, namely the North-South, North-East, Circle, Downtown, and East-West lines.
"We expect keen interest from local developers for this collective sale site, owing to its affordable pricing, attractive location in District 9 in the city centre, its freehold land tenure, and proximity to a number of MRT stations, which offer excellent connectivity to the rest of Singapore, including Orchard Road, Marina Bay, and the central business district," said Tracy Goh, Head of Investment and Collective Sales at PropNex.
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Schools that are in the area include Anglo-Chinese School (Junior), St. Margaret's Primary School (under construction), Farrer Park Primary School, River Valley Primary School, St. Joseph's Institution Junior, Singapore Management University, LaSalle College of The Arts (McNally Campus), School of the Arts, Nanyang Academy of Fine Arts, and Chatsworth International School (Orchard Campus).
There are also a range of amenities and malls nearby, including Plaza Singapura, Bugis Junction, Mustafa Centre, and various eateries along Prinsep Street, Selegie Road and Little India.
Goh said that the successful tenderer can add another apartment to its current five units, and boost the gross floor area to 645 sq m.
"We expect this property to appeal to family offices and high-net-worth individuals who may purchase this residential building for multi-generation families to live together and/or for investors to hold this prime residential building for legacy planning and strong recurring income," she said.
The collective sale tender will close at 2pm on 12 May.
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