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SINGAPORE

Prime freehold residential redevelopment site at 38 St Thomas Walk up for collective sale

St Thomas Ville, a freehold collective sale site at 38 St Thomas Walk, has just been launched for sale by tender by sole marketing agent, JLL.


SINGAPORE, 6 August 2018 – St Thomas Ville, a freehold collective sale site at 38 St Thomas Walk, has just been launched for sale by tender by sole marketing agent, JLL.

 

Located in the heart of the city, the twelve-storey development comprises 23 apartments built on a regular shaped plot. Under the 2014 Master Plan, the 11,407 sq ft site is zoned 'Residential' with a gross plot ratio of 2.8 and an allowable height of up to 36 storeys. Over 80 per cent of the owners have consented to the sale.

 

With a prestigious District 9 address, the plot is within a short stroll to both the Great World City and the famed Orchard Road shopping district – a vibrant 2.2km shopping belt with over 800,000 sqm of retail, entertainment and dining options, civic and cultural amenities, as well as the regionally renowned private medical facilities. It would also enjoy excellent accessibility with the upcoming Great World MRT Station on the Thomson-East Coast (TEL) line being a mere 600m walk away.

 

Within a short 5 to 10 minutes' drive, residents from St Thomas Ville would reach many other amenities with ease, including Robertson Quay, Boat Quay, Liang Court, Chinatown, as well as Raffles Place and Marina Bay.

 

In addition, the site is in close proximity to established primary and international schools. The popular River Valley Primary School is within one kilometre of the site, while reputable educational institutions such as the ISS International School and Chatsworth International School are in the vicinity.

 

The owners set a reasonable minimum price and are expecting bids in excess of $58 million, which reflects about $1,816 per sq ft per plot ratio (psf/pr) or $1,754 psf/pr after factoring in the 10 per cent bonus balcony and a corresponding estimated development charge of about $3.6 million, subject to the relevant authority's confirmation of the development baseline.

 

"The site's excellent locational attributes would appeal to small and mid-sized developers looking for smaller development plots in prime areas", said Mr. Tan Hong Boon, Regional Director of Capital Markets at JLL, Singapore. Based on reply from the Land Transport Authority, the site is not subject to Pre-Application Feasibility Study and as it is also located within the Central Area, the guidelines on minimum average size of 70 sqm is not applicable, "a potential investor has an increased flexibility in designing a good mix of various unit sizes catering to its target buyers, subject to approval from the relevant authorities", he added.

 

The tender for St Thomas Ville closes on Monday, 10 September 2018, at 2.30 p.m.

 

 

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Note to editors:

  1. For a high-resolution image of the site, please click here.

 

 

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.