Perennial Holdings has put the former Caldecott Broadcast Centre (CBC) up for sale via expression of interest (EOI) with a guide price of $350 million, according to a Nov 12 release. Savills Singapore and Delasa are the appointed marketing agents handling the sale.
The integrated healthcare and real estate firm had previously acquired the site from national broadcaster Mediacorp in 2020 through a tender sale for $280.9 million. They had intended to redevelop it into 15 large leasehold good class bungalows (GCBs), spanning 15,070 sq ft to 250,801 sq ft.
However, Perennial Holdings has since shifted its focus towards healthcare, supported by a healthcare-centric real estate strategy. A spokesperson from Perennial Holdings says the firm is “availing the site for sale so that resources can be recaliberated to focus on our core business”.
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Situated close to the Caldecott Hill GCB estate in prime District 11, the 752,014 sq ft plot of land is zoned as a ‘Civic & Community Institution’ under URA’s 2019 Master Plan. According to the release, the leasehold site has the potential to be redeveloped into more than 60 two-storey bungalows, with a minimum land area of 8,611 sq ft.
The site is currently vacant, following the demolition of CBC’s facilities. “Few sites offer such a blank canvas to create an entirely new and distinctive landed development,” says Jeremy Lake, managing director of investment sales and capital markets at Savills Singapore.
He adds that developers would benefit from “the considerable groundwork carried out so far, including the demolition of all the structures on site, engagement and master planning”.
The site is a short walk to Caldecott MRT Station (on the Circle and Thomson-East Coast Line) and is within a 2km radius of CHIJ (Toa Payoh), Singapore Chinese Girls’ Primary School, Raffles Institution and St Joseph’s Institution International.
Karamjit Singh, CEO of Delasa, notes that despite persistent growth in Singapore’s economy, wealth and population, the supply of detached homes has remained “virtually unchanged” at around 10,000 units over the last three decades. “This persistent scarcity, coupled with rising household wealth and the arrival of new ultra-high-net-worth residents, continues to support robust demand and pricing in the bungalow market,” he says.
Beyond traditional developers, Singh anticipates the site will also draw interest from ultra-affluent Singaporean families seeking to develop bespoke mansions. “This approach offers three advantages: they can curate a super-luxury enclave to their own design, live as immediate neighbours, and crucially deploy materially less equity by capitalising on the leasehold discount relative to mainstream freehold bungalows,” he believes.
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The EOI exercise will close on January 15, 2026.