Freehold residential site at Wilkie Road relaunches for collective sale at $10 mil
/ EdgeProp Singapore |
64 Wilkie Road (outlined in white) (Picture: PropNex)
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SINGAPORE (EDGEPROP) - A freehold residential building at 64 Wilkie Road will be relaunched for collective sale via tender on April 6, says marketing agent Propnex Realty. The property has a guide price of $10 million, which works out to $1,348 psf per plot ratio (psf ppr) including the 7% balcony space and land betterment charge (LBC).
64 Wilkie Road was previously launched for collective sale together with an adjacent site at 62 Wilkie Road for $19.5 million in November 2022. The tender had closed without any bids. Prior to that, the property at 62 Wilkie Road was separately launched for en bloc sale in August 2022, with a guide price of $9.2 million. (See potential condos with en bloc calculator)
The apartment at 64 Wilkie Road consists of five strata units. The residential building sits on a site spanning 3,306 sq ft zoned for residential use with a gross plot ratio of 2.1, under the URA Master Plan 2019.
Map and overview of 64 Wilkie Road (Source: EdgeProp LandLens)
Tracy Goh, head of investment and collective sales at PropNex, notes that the building can be extended or redeveloped to maximise the GFA. “The successful tenderer can add another apartment to its current five units of 533 sqm (5,737 sq ft) and in so doing, boost the gross floor area to 645 sqm (6,943 sq ft) – further enhancing the recurring rental income from this residential building.”
Goh expects keen interest from both local developers and investors for the site, owing to its pricing, freehold tenure and its city-centre location in District 9. She adds that its proximity to a number of MRT stations, including Dhoby Ghaut, Rochor and Bencoolen further boosts the site’s appeal. “Supply of freehold land in the city is limited and this tender presents a rare opportunity for developers and homeowners to acquire a prime freehold residential site in the heart of Singapore’s vibrant Arts and Cultural District in the city,” she concludes.
Recent en bloc transactions within a 500m radius of 64 Wilkie Road (Source: EdgeProp LandLens)
Nearby amenities include Plaza Singapura, Bugis Junction, Mustafa Centre, City Square Mall, GR.iD mall, Tekka Market, and various eateries in Prinsep Street, Selegie Road and Little India. Meanwhile, schools in the vicinity of 64 Wilkie Road are Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School, St Joseph’s Institution Junior, Singapore Management University, LaSalle College of the Arts, School of the Arts, and Nanyang Academy of Fine Arts.
The collective sale tender will close on May 12 at 2pm.
Check out the latest listings near Wilkie Road, Dhoby Ghaut MRT station, Rochor MRT station, Bencoolen MRT station, Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School, St Joseph’s Institution Junior, Singapore Management University, LaSalle College of the Arts, School of the Arts, Nanyang Academy of Fine Arts
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