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News Release

Singapore

Collective sale of 11 Balmoral Road, with 100% owners’ consent


SINGAPORE, 31 October 2017 – 11 Balmoral Road, a collective sale site within the prime District 10, has just been launched for sale by tender by sole marketing agent, JLL.

Built in the mid 1990's, the property comprises 17 units in two 4-storey apartment blocks. This is the development's first collective sale attempt and all the owners in the development have consented to the collective sale. Hence, Strata Titles Board approval for the sale is not required and the successful purchaser can take possession of the site upon the end of vacant possession period and plan towards marketing and building the new project quickly.

Under the 2014 Master Plan, the 30,200 sq ft site is zoned 'Residential', with a gross plot ratio of 1.6. It may be redeveloped 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 in close proximity to Orchard Road and the Central Business District (CBD). It is about 10 minutes' walk to the Newton MRT Interchange, which connects to Orchard Road, Singapore Botanic Gardens and various popular parts of the city. Renowned primary schools, the Singapore Chinese Girls' School and Anglo-Chinese School (Primary), are within 1 km from the development.

"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 serene unobstructed view of lush greenery across the road towards Goodwood Hill". 

Subject to design and approval from Urban Redevelopment Authority (URA), a developer may potentially configure the allowable gross floor area (GFA) of 48,320 sq ft up to a maximum of 64 apartments.

The owners are expecting a price of $75 million, which translates to 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.

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Note to editors:

For a high-resolution photograph of the property, please click here.