Perennial Holdings Private Limited, through its indirect associate company, has placed the site of the former Caldecott Broadcast Centre it acquired from national broadcaster Mediacorp Pte Ltd in 2020 for sale with a guide price in excess of S$350 million. It has engaged the services of real estate advisors Savills Singapore and Delasa to conduct an Expressions of Interest (“EOI”) exercise.
Zoned ‘Civic & Community Institution’ under the 2019 Master Plan, the massive 752,014 square feet leasehold land could be redeveloped into more than 60 two-storey bungalows, each with a minimum land area of 8,611 square feet, subject to approvals. The site is currently vacant as the former broadcasting facilities have since been demolished.
This presents a rare chance for developers to create a sweeping, premium landed estate within the prestigious Caldecott Hill Good Class Bungalow (GCB) area. Positioned as one of the most significant landed redevelopment opportunities in the prime central region in decades, the site offers the potential to be transformed into a luxury bungalow enclave.
Surrounded by lush greenery, the property sits close to MacRitchie Reservoir Park and is well-connected via Caldecott MRT station, which is within a short walk. Within a 2-kilometre radius are sought-after educational institutions including CHIJ (Toa Payoh), Singapore Chinese Girls’ Primary School, Raffles Institution and St Joseph’s Institution International.
Karamjit Singh, CEO of Delasa, “Singapore’s sustained growth in the economy, wealth and population continues to favour the bungalow segment, where supply has remained virtually unchanged. Three decades ago, Singapore had 2.82 million citizens and 130,000 private homes, including about 10,000 detached houses. Today, the citizen population has grown to 3.66 million and the private housing stock to 461,000 units, yet the number of detached houses has held at around 10,000. This persistent scarcity, coupled with rising household wealth and the arrival of new ultra-high-net-worth residents, continues to support robust demand and pricing in the bungalow market.”
Jeremy Lake, Managing Director of Savills, “This hilltop site comprising approximately 17 acres, is a rare convergence of scale, location and design flexibility. Few sites offer such a blank canvas to create an entirely new and distinctive landed development. Developers would benefit from the considerable groundwork carried out so far, including the demolition of all the structures on site, engagement and master planning. ”
“The landed segment has continued to demonstrate resilience, supported by sustained demand from high-net-worth buyers seeking exclusivity. Market activity remains robust. In the first 10 months of the year, detached home transactions in prime Districts 9, 10 and 11 reached S$1.11 billion, already surpassing the totals of 2024 (S$1.105 billion) and 2023 (S$1.02 billion).”
“Beyond traditional developers, we also anticipate a consortium of ultra-affluent Singaporeans – including extended families, banding together to acquire the site for the development of bespoke mansions. This approach offers three advantages: they can curate a super-luxury enclave to their own design, live as immediate neighbours, and crucially deploy materially less equity by capitalising on the leasehold discount relative to mainstream freehold bungalows,” added Mr Singh.
The site will be sold via an EOI exercise, which will close on 15 January 2026.
