{"id":48916,"date":"2017-03-21T10:52:45","date_gmt":"2017-03-21T03:52:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-sites-in-balmoral-road-area-for-sale\/"},"modified":"2017-03-21T10:55:22","modified_gmt":"2017-03-21T03:55:22","slug":"two-freehold-sites-in-balmoral-road-area-for-sale","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-freehold-sites-in-balmoral-road-area-for-sale\/","title":{"rendered":"Two freehold sites in Balmoral Road area for sale"},"content":{"rendered":"


\nView of the freehold residential sites at Balmoral Road and Ewe Boon Road. (Photo: Edmund Tie & Co.)
\nTwo adjoining freehold residential redevelopment sites within the Balmoral Road area have been put up for sale by public tender, revealed marketing agent Edmund Tie & Co.
\nLaunched in a concurrent but separate tender, the two sites at Balmoral Road and Ewe Boon Road are zoned residential, with a gross plot ratio of 1.6 and a building height control of up to 12 storeys under the 2014 Master Plan.
\nThe sites have a combined area of around 57,349 sq ft, and are expected to attract strong interest from both local and foreign developers due to their rarity, along with \u201csigns of the Singapore residential market bottoming out and growing momentum in sales volume in recent months\u201d.
\nWith this, Edmund Tie & Co. expects \u201cmany parties to submit bids for both sites as they offer greater economies of scale and flexibility in terms of layout and efficiency\u201d.
\nAssuming an average apartment size of 70 sq m, the combined site is \u201cideal for an upscale boutique residential project of about 121 units\u201d, it added.
\nHowever, the successful bidder will have to pay an estimated total development charge of around $31.5 million to redevelop the combined site up to a plot ratio of 1.6.
\n\u201cThe subject sites are among the last few remaining development land at the Balmoral Road area. Such opportunities where a freehold site within a prime location is available for sale are getting harder to come by as much of the area has already been developed,\u201d said Swee Shou Fern, Senior Director for Investment Advisory at Edmund Tie & Co.
\nThe tender exercise for both sites will close on 20 April.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Two freehold sites in Balmoral Road area for sale<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the freehold residential sites at Balmoral Road and Ewe Boon Road. (Photo: Edmund...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-48916","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-cIY","jetpack-related-posts":[{"id":122166,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gilstead-road-residential-site-up-for-sale-for-91-8mil\/","url_meta":{"origin":48916,"position":0},"title":"Gilstead Road residential site up for sale for $91.8mil","date":"September 23, 2021","format":false,"excerpt":"\r Gilstead Road residential site up for sale for $91.8milSole marketing agent Edmund Tie said the price works out to a land rate of about $2,001 per sq ft per plot ratio (psf ppr), including the estimated development charge. Photo: Edmund Tie A freehold residential site at Gilstead Road in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/09\/32_34-Gilstead-Rd_00019-crop.jpg?fit=819%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":73625,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/2-projects-sold-en-bloc-for-over-658mil\/","url_meta":{"origin":48916,"position":1},"title":"2 projects sold en bloc for over $658mil","date":"December 4, 2017","format":false,"excerpt":"\r Royalville attracted a total of nine bids which surpassed the $368m asking price. (Photo: Edmund Tie & Co) Marketing agent Edmund Tie & Co announced on Friday (1 December) that it successfully sold two existing developments via collective sale for a total of $658.59 million. In particular, Royalville in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Crystal-Tower-e1512356063925.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":70504,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/11-balmoral-road-up-for-collective-sale-at-75-million\/","url_meta":{"origin":48916,"position":2},"title":"11 Balmoral Road up for collective sale at $75 million","date":"October 31, 2017","format":false,"excerpt":"\r 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,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/balmoral-gardens-launched-for-en-bloc-sale-owners-expect-over-92m\/","url_meta":{"origin":48916,"position":3},"title":"Balmoral Gardens launched for en bloc sale, owners expect over $92m","date":"January 17, 2018","format":false,"excerpt":"\r Balmoral Gardens, a 40-unit freehold condominium near Orchard Road, has joined the collective sales frenzy today (17 January), with owners expecting offers of more than $92 million. According to sole marketing agent Huttons Asia, all residents have agreed to the en bloc sale. \u201cWith full consensus from the owners,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70106,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/crystal-tower-relaunched-for-collective-sale-at-lower-price\/","url_meta":{"origin":48916,"position":4},"title":"Crystal Tower relaunched for collective sale at lower price","date":"October 26, 2017","format":false,"excerpt":"\r Built in the 1970s, the 28-unit Crystal Tower is now going for $138 million. 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