A group of investment holding companies has placed three residential properties near Orchard Road up for sale by public tender. The three properties are 3 Cuscaden Walk, 120 Grange Road and 8 Hullet Road. Bidders can choose to bid for either one or two or all three properties.
Completed in the early 1990s, 3 Cuscaden Walk comprises a 12-storey tower with 11 four-bedroom apartments that each average 3,627 sq ft. Under the 2014 Master Plan, the property has a land area of 21,560 sq ft that is zoned for residential use, with a gross plot ratio of 2.8. It has a height control of up to 36 storeys. The plot is located within 300m of ION Orchard and the Orchard MRT station. The property could attract offers in excess of $100 million, which reflects an indicative land rate of $1,900 psf per plot ratio, according to JLL’s head of residential in Singapore, Karamjit Singh.
Meanwhile, the property at 120 Grange Road comprises an 11-storey block of 18 flats with a combined strata area of 26,350 sq ft and a land area of 15,780 sq ft. Under the 2014 Master Plan, it is zoned for residential use, with a gross plot ratio of 2.1 and a height control of up to 24 storeys. The property is 370m away from the upcoming Orchard Boulevard MRT station on the future Thomson-East Coast line.
3 Cuscaden Walk
120 Grange Road
8 Hullet Road
The smallest and newest among the three properties is 8 Hullet Road. It is a 10-storey tower with 18 apartments and a total strata area of 18,428 sq ft. There are nine three-bedroom units and nine two-bedroom units. Completed in the early 2000s, the development is located within 350m of the Somerset MRT station.
Jeremy Lake, executive director at CBRE Singapore, expects offers in the range of $35 million to $50 million for the Hullet Road and Grange Road buildings, which work out to $1,900 psf on the existing strata areas.
JLL and CBRE are the appointed marketing agents for the properties. The tender exercise for the three assets closes on Nov 2.
Separately, the vendor also owns a 2,680 sq ft unit and a 3,348 sq ft unit at The Claymore. Both units have been put up for sale by private treaty, with asking prices of $7.25 million and $9.2 million respectively, or $2,700 to $2,750 psf. JLL is the appointed marketing agent for these two properties.