Braddell View, the largest of the 18 HUDC estates in Singapore, will be put up for collective sale via public tender on March 27, announced its marketing agent Colliers International.
The reserve price of $2.08 billion translates to a land rate of $1,199 psf per plot ratio (ppr). This is inclusive of the differential premium to intensify land use and top up the lease to a fresh 99 years, estimated at $795.1 million. The site has a lease tenure of about 102 years with effect from Feb 1, 1978. It has 61 years left on its lease.
Braddell View, a former HUDC estate, was privatised in 2017 and sits on a hilltop site spanning about 1,142,276 sq ft. The redevelopment site comprises two separate land lots of 618,221 sq ft and 524,055 sq ft respectively.
Braddell View sits on a hilltop site spanning about 1,142,276 sq ft (Credit: Colliers International)
The estate comprises 918 units of apartments, maisonettes, and penthouses, as well as two shops. The sizes of residential units range between 1,453 sq ft and 3,369 sq ft. The owners of residential units can stand to receive between $2.04 million and $4.03 million each upon the successful sale. Meanwhile, owners of the commercial shops, which span 194 sq ft and 517 sq ft, could receive between $529,500 and $1.2 million.
Under the 2014 Master Plan, the Braddell View site is zoned for residential use with a gross plot ratio of 2.1. It will have a proposed total gross floor area of about 2,398,781 sq ft. Colliers estimates that up to 2,620 new residential units with an average size of about 915 sq ft could be built on the site, subject to approval for a pre-application feasibility study.
The site has easy access to the Pan Island Expressway and Central Expressway. It is served by three MRT stations: Braddell on the North-South Line; and Marymount and Caldecott on the Circle Line. Come 2020, Caldecott MRT Station will be connected to the new Thomson-East Coast Line, providing even greater accessibility to the northern and eastern parts of Singapore.
In addition, the upcoming North-South Corridor (NSC) near the site will further improve accessibility and reduce travelling time to the city when it is completed around 2026.
The tender will close at 3pm on May 28.