Owners of the freehold Dalvey Court have put up the 32-unit residential block for collective sale.

The reserve price of $160 million translates into an estimated $2,009 psf per plot ratio (ppr), says Cushman & Wakefield, the appointed marketing agent for the sale. There is no development charge payable due to the high development baseline.

Given the estimated gross floor area of 79,660 sq ft, the site can be redeveloped into 93 apartment units, with each sized at 753.5 sq ft, according to Cushman & Wakefield. Under URA’s Master Plan 2014, the residential site has a plot ratio of 1.6 with a 12-storey height limit.

Completed in 1976, Dalvey Court, off Bukit Timah Road, is a six-minute walk to Stevens MRT station, along the Downtown Line.

In February this year, the 77-unit City Towers, another freehold development off Bukit Timah Road, was sold for $401.9 million or $1,847 psf ppr.

The tender for the Dalvey Court site will close on August 2.

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