Built in the mid-1990s, the property comprises 17 units in two four-storey apartment blocks. (Photo: JLL)
Property consultancy JLL has launched 11 Balmoral Road in prime District 10 for collective sale at $75 million.
The asking price translates to a land rate of about $1,761 psf per plot ratio, inclusive of the development charge which is estimated to be around $10 million.
This is the development’s first collective sale attempt with 100 percent owners’ consent. As such, Strata Titles Board approval for the sale is not required.
Built in the mid-1990s, the property comprises 17 units in two four-storey apartment blocks.
The 30,200 sq ft site is zoned residential with a gross plot ratio of 1.6 under the 2014 Master Plan. It could be redeveloped into a high-end condominium of up to 12 storeys.
Subject to design and approval from the Urban Redevelopment Authority, a developer may potentially configure the allowable gross floor area of 48,320 sq ft up to a maximum of 64 apartments.
The site is a short walk from Newton MRT interchange, which connects to Orchard Road and the Botanic Gardens. Nearby schools include Singapore Chinese Girls’ School and Anglo-Chinese School (Primary).
“11 Balmoral Road is a compelling offering of a freehold site with manageable quantum. It is expected to attract a wide pool of developers due to its affordability and a very prime location,” said Tan Hong Boon, regional director at JLL.
The tender exercise closes on 29 November.