{"id":122838,"date":"2021-10-27T01:42:11","date_gmt":"2021-10-26T18:42:11","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price\/"},"modified":"2021-10-27T10:13:59","modified_gmt":"2021-10-27T03:13:59","slug":"adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-goes-en-bloc-again-with-lower-price\/","title":{"rendered":"Adjoining sites at Bukit Timah, Duke's Road goes en bloc again with lower price"},"content":{"rendered":"


\nAdjoining sites at Bukit Timah, Duke’s Road goes en bloc again with lower priceLocated\u00a0at 551 to 553 Bukit Timah Road and 6 to 8 Duke\u2019s Road,\u00a0the three adjoining mixed-use redevelopment sites has an asking price of $53.8 million. Source:\u00a0Google\u00a0Maps
\nThe owners of three adjoining mixed-use redevelopment sites located at 551 to 553 Bukit Timah Road and 6 to 8 Duke\u2019s Road, including a driveway, made a second attempt at en bloc sale.
\nThis time they lowered their asking price to $53.8 million, reported The Business Times (BT) citing sole marketing agent JLL.
\nIncluding the development charge at a gross plot ratio of 3.0, the price works out to $1,502 per sq ft per plot ratio (psf ppr). This was assuming 60% of the gross floor area (GFA) would be for residential use, while the other 40% would be for commercial use.
\nDuring the first collective sale attempt in January 2021, the plots carried a guide price of $62.5 million or $1,658 psf ppr. This was based on the assumption that 80% of the GFA would be for residential use and the remaining 20% for commercial use.
\nBT noted that no Strata Titles Board application is needed for the sale since all owners have consented to the en bloc sale of their respective developments.
\nZoned for residential and commercial use under the 2019 Master Plan, the 16,479 sq ft freehold site has an allowable height of up to five storeys.
\nThe site at 551 to 553 Bukit Timah Road spans 7,727 sq ft, while the plot at 6 to 8 Duke\u2019s Road, along with the driveway, measures 8,752 sq ft.
\nThe entire property is bounded by Queen\u2019s Road, Duke\u2019s Road and Bukit Timah Road, near the Botanic Gardens MRT Interchange. The Orchard Road shopping belt is also a mere 10-minute drive via Stevens Road.
\nThe property is also close to Coronation Plaza, Cluny Court, Serene Centre, Adam Road Food Centre as well as the Botanic Gardens.
\nNearby schools include Raffles Girls\u2019 Primary School, St Margaret\u2019s Secondary School and Nanyang Primary School.
\nJLL Executive Director of Capital Markets Tan Hong Boon said the property could be redeveloped into a boutique development with 32 residential units averaging 85 sq m and retail units on the lower levels.
\n\u201cThe property market is now more vibrant compared to earlier this year. Developers are very actively looking for redevelopment sites as sales of their new units are moving steadily with their inventories running down,\u201d he said as quoted by BT.
\nThe latest tender for the sites closes on 2 December.
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nCheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email:\u00a0cheryl@propertyguru.com.sg.\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Adjoining sites at Bukit Timah, Duke’s Road goes en bloc again with lower price<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Adjoining sites at Bukit Timah, Duke’s Road goes en bloc again with lower priceLocated\u00a0at 551...<\/p>\n","protected":false},"author":1,"featured_media":122839,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-122838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vXg","jetpack-related-posts":[{"id":119946,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/adjoining-sites-at-bukit-timah-dukes-road-up-for-collective-sale\/","url_meta":{"origin":122838,"position":0},"title":"Adjoining sites at Bukit Timah, Duke's Road up for collective sale","date":"January 27, 2021","format":false,"excerpt":"\r Adjoining sites at Bukit Timah, Duke's Road up for collective saleWith an area of 16,479 sq ft, the freehold site is zoned for residential and commercial use under the\u00a02019 Master Plan. Image: Google Street View Three adjoining mixed-use redevelopment sites located at 551 to 553 Bukit Timah Road and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/551-to-553-Bukit-Timah-Rd.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":31788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upper-bukit-timah-shophouses-on-sale-for-20-million\/","url_meta":{"origin":122838,"position":1},"title":"Upper Bukit Timah shophouses on sale for $20 million","date":"October 27, 2016","format":false,"excerpt":"\r The guide price works out to $718 psf per plot ratio on the floor area. (Photo: CBRE) A cluster of five adjoining shophouses along 824-836 Upper Bukit Timah Road have been put up for sale by public tender, said marketing agent CBRE. The guide price for the row of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/another-condo-goes-en-bloc-this-time-in-bukit-timah\/","url_meta":{"origin":122838,"position":2},"title":"Another condo goes en bloc, this time in Bukit Timah","date":"October 12, 2017","format":false,"excerpt":"\r Built in the 1980s, Royalville comprises 93 apartments and 11 shops. (Photo: Edmund Tie & Company) The en bloc frenzy continues after Royalville at Bukit Timah Road became the latest project to be put up for sale on Thursday (12 October). The freehold condominium in District 10 joins a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cdl-unit-to-acquire-upper-bukit-timah-site-for-126-3mil\/","url_meta":{"origin":122838,"position":3},"title":"CDL unit to acquire Upper Bukit Timah site for $126.3mil","date":"November 29, 2021","format":false,"excerpt":"\r The two adjoining sites are located at 798 and 800 Upper Bukit Timah Road and have an area of 16,620 sq m (178,900 sq ft). Source:\u00a0Google\u00a0Maps CDL Aries, a unit of City Developments Limited (CDL), has been granted a call option to acquire two adjoining sites at 798 and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/11\/upper-bukit-timah.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":69748,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mayfair-gardens-up-for-en-bloc-sale-at-265m\/","url_meta":{"origin":122838,"position":4},"title":"Mayfair Gardens up for en bloc sale at $265m","date":"October 23, 2017","format":false,"excerpt":"\r The asking price works out to a land rate of around $1,058 psf per plot ratio. (Photo: Knight Frank) Mayfair Gardens off Dunearn Road has been launched for collective sale, with the owners expecting offers above the reserve price of $265 million, according to marketing agent Knight Frank. Built\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97776,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxleys-mayfair-gardens-to-preview-this-weekend\/","url_meta":{"origin":122838,"position":5},"title":"Oxley\u2019s Mayfair Gardens to preview this weekend","date":"September 13, 2018","format":false,"excerpt":"\r Artist\u2019s impression of Mayfair Gardens, an upcoming high-end condo in Bukit Timah. Mayfair Gardens, a high-end private condominium with 215 units along Rifle Range Road in Bukit Timah, is set to open for preview this weekend (15-16 Sept), according to its developer Oxley Holdings. 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