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Freehold East Coast Residential Site for Sale at Revised Price of $13.5 Million

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Savills Singapore is offering 29A Jalan Hajijah for sale. It is a sizeable, landed redevelopment site located within the East Coast vicinity. The sale will be by way of an Expression of Interest (EOI) exercise.

 

The vicinity of Jalan Hajijah enjoys tranquillity and privacy as the immediate neighbourhood is predominantly surrounded by private landed housing and low-rise private residential developments.  The Site sits on a freehold plot of approximately 11,746 square foot and is located at the cul-de-sac of Jalan Hajijah, off upper East Coast Road.

 

The site has an average plot depth of approximately 25 meters and an average plot width of approximately 32 meters, which allows for maximum design efficiency after a driveway. Zoned as ‘’Residential, Plot Ratio 1.4’’ under the 2019 Master Plan, the site offers flexibility to be redeveloped into two housing types, subject to the authorities’ planning approval:

  • A bungalow or
  • A boutique apartment block that can accommodate up to 15 units*

 

The site is conveniently accessible via the East Coast Park (ECP) Expressway and other major arterial roads. Additionally, the East Coast vicinity welcomes further enhancement in connectivity with the recent opening of Siglap MRT Station (TE28) and Bayshore MRT Station (TE29), located within 600m to the site.

 

Esteemed educational institutions such as Victoria Junior College, Victoria School, Temasek Junior College, Temasek Secondary School, CHIJ Katong Covent and St Patrick’s School are all within 1-2km from the site. It is also conveniently located close to an array of amenities including the popular East Coast Park/Beach, East Coast Lagoon Food Village, and East Coast Seafood Centre.

 

Ms. Sophia Lim, Director of Investment Sales & Capital Markets at Savills Singapore, shares, “As a sizable freehold plot zoned Plot Ratio 1.4 located at the cul-de-sac of Jalan Hajijah, the Site offers planning flexibility to be redeveloped into various housing types. Developers or end-users can either redevelop the Site into a bungalow or a boutique apartment block that can accommodate up to 15 units, subject to relevant authorities’ planning controls. The underlying demand for landed homes remains positive in District 16, as many high-net-worth individuals and families are on the prowl for well-located landed properties given the positive long-term outlook for this asset class.”

 

The revised guide price for 29A Jalan Hajijah is S$13.5 million, translating to approximately S$1,149 per square foot on land area and the site will be sold on vacant possession. The Expression of Interest (EOI) for the Property will close on Friday, 16 August 2024, at 3pm.

 

 

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Delfi Orchard Sold For $439 Million

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Savills Singapore recently announced that Delfi Orchard at 402 Orchard Road has been sold for $439 million via public tender, which closed on 27 May. City Developments Limited (CDL) through its wholly owned subsidiary CDL Draco Pte. Ltd. has been awarded the collective sale tender for Delfi Orchard, a prime 11-storey freehold strata titled commercial building at the price of $439 million.

 

Enjoying a prominent frontage of approximately 80 metres along Orchard Road, Delfi Orchard is situated on a freehold site of approximately 20,264 sq ft and is zoned “Commercial” with a height control of up to 20 stories. Delfi Orchard has a development baseline verified by the Singapore Land Authority (SLA) at 131,186 sq ft which is equivalent to a plot ratio of 6.474. This compares with the Master Plan plot ratio of 4.9.

 

The development commands attention with its prominent frontage and visibility throughout the day. Delfi Orchard is also within a stone’s throw to Singapore’s most prestigious residential neighbourhood, Ardmore Park/Nassim Park, well served by the public transport network and seamlessly connected to amenities including the famed Orchard Road shopping belt, renowned medical establishments, exclusive private clubs, hotels and the Singapore Botanic Gardens, an 82 hectare of tropical paradise. The site allows developers the flexibility of multiple development options ranging from office, luxury retail, and residential to hotel. The sale price of $439 million works out to approximately $ 3,346 psf per plot ratio (ppr) based on the existing GFA of approximately 131,186 sq ft.

 

Jeremy Lake, Managing Director, Investment Sales & Capital Markets, says, “The sale of Delfi Orchard is the third major collective sale in the Orchard Road corridor brokered by Savills, following the earlier successful collective sales of Tanglin Shopping Centre ($868M / $2,769 ppr) and Ming Arcade ($172M / $3,125 ppr). Developers continue to be drawn to prime development opportunities here and are very excited by the URA’s plans to rejuvenate and refresh Orchard Road.”