This property comprises 17 units in two 4-storey apartment blocks and all the owners in the development have consented to the collective sale. So this speeds up the process as Strata Titles Board approval for the sale is not required and you can take possession of the site at the end of vacant possession period, then plan towards marketing and building the new project quickly.

The site is zoned ‘Residential’, and you could redevelop it to accommodate an exclusive medium-rise high-end residential project of up to 12 storeys.

The Balmoral Road area is an established private residential enclave that has always appealed to both local high net worth families and expatriates alike. It is near Orchard Road and the Central Business District (CBD), and only 10 minutes’ walk to the Newton MRT Interchange, which connects to Orchard Road, Singapore Botanic Gardens and various popular parts of the city. Within the 1km from the site are renowned primary schools, the Singapore Chinese Girls’ School and the 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. The site also enjoys dual frontages from the main Balmoral Road and a side road,” says Mr. Tan Hong Boon, Regional Director at JLL.

He adds: ‘When redeveloped into a 12-storey building, the development should offer a serene unobstructed view of lush greenery across the road towards Goodwood Hill”. 

Subject to design and approval from Urban Redevelopment Authority (URA), you may potentially reconfigure the site to 64 apartments.

The owners are expecting a price of $75 million, which is an estimated land rate of about $1,761 psf per plot ratio (inclusive of development charge). An application for the development baseline has been submitted to the Urban Redevelopment Authority to establish the amount of development charge payable.  It is currently estimated to be in the region of $10 million, subject to confirmation.

The tender for 11 Balmoral Road closes on Wednesday, 29 November 2017, at 2.30 pm.

If you wish to arrange an inspection or discuss the property, phone or email Mr. Tan Hong Boon, Regional Director at JLL via the contact details below.

This is a promoted article.

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