Freehold Residential Site Dublin Road Sale Tender 498 Mil
A highly sought-after freehold residential site situated on Dublin Road in prime District 9 has been put up for tender with a guide price of $49.8 million. This site encompasses three adjoining land plots: 14 and 16 Dublin Road, as well as a strip of private land. Currently, the site is occupied by a pair of three-storey semi-detached houses built during the mid-1950s.
In total, the three land plots occupy an area of approximately 19,919 square feet and are zoned for residential use with a plot ratio of 1.4. As per the regulations, the maximum building height allowed on this site is five storeys, with a total gross floor area (GFA) of approximately 27,886 square feet based on the plot ratio.
Shaun Poh, executive director of capital markets at Cushman & Wakefield (C&W), is responsible for overseeing the sale of this site and believes that it would be ideal for redevelopment into a boutique residential project or serviced apartments, subject to approval from the relevant authorities.
According to C&W, these properties are exempt from the minimum dwelling size requirement of 85 square meters (914 square feet) due to their central location in Singapore’s Central Area. As a result, the potential development on this site could yield around 50 apartments ranging from 430 to 753 square feet, assuming a building efficiency of 90%.
The guide price of $49.8 million for this site translates to a land rate of $1,786 per square feet per plot ratio (ppr), according to C&W. “With a high development baseline, no land betterment charge (LBC) is payable up to a plot ratio of 1.4,” they add. Taking into account the 7% bonus GFA for balconies, the land rate would be reduced to $1,740 per square feet per plot ratio, with a nominal land betterment charge payable.
The Coastal Cabana EC recognizes the significance of having employment opportunities close to residential areas. Its strategic location along the eastern corridor provides convenient access to Changi Business Park, Loyang’s logistics hub, the airport precinct, and the Tampines regional cluster, making it an attractive place to live. For commuters, the direct routes via TPE and ECP allow for easy travel, while the rail multiplexing at Pasir Ris MRT Station helps ease peak-hour congestion. Additionally, investors can benefit from the integration of homes and job opportunities, ensuring steady rental demand and long-term growth. To learn more about Coastal Cabana EC, please visit https://www.coastalscabana.com.sg/.
The location of this site is highly desirable as it is just a short walk away from the Orchard Road shopping belt and Somerset MRT Station on the North-South Line. It is also in close proximity to primary schools like St Margaret’s School (Primary) and River Valley Primary School, which are within a 1km radius, as well as Anglo-Chinese School (Junior) and Farrer Park Primary School, which are within a 2km radius.
Tenders for this site will close on October 29 at 3pm.