In the prestigious enclave around Ardmore Park, Claymore Road, and Draycott Park — just off Orchard Road — sits a rare cluster of three bungalows at 9, 11, and 15 Claymore Road. The neighbourhood is also home to luxury condominiums such as Sculptura Ardmore, The Tate Residences, and The Claymore.

The bungalow at 11 Claymore Road has been sold for $75 million in a private treaty deal brokered by Karamjit Singh, CEO and founder of property consultancy Delasa. “Several people who looked at the site appreciated the rarity of the property,” he says.

Under the URA Master Plan, the site is zoned for residential use with a 2.8 plot ratio and a maximum height of 36 storeys. After factoring in a land betterment charge of about $30 million, the $75 million sale price reflects a land rate of around $2,100 psf per plot ratio (ppr), Singh estimates.

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Built in the 1940s, the bungalow sits on a freehold site of 17,974 sq ft with a gross floor area of 4,796 sq ft. Property records show the owner is Kok Kim Chuan, a private company linked to the Kok family, who were previously involved in trading and finance. It was formerly a family home.

For the past 26 years, however, the property has been leased to The Schoolhouse by Busy Bees (formerly Pat’s Schoolhouse). It was therefore sold with the existing tenancy.

The property was previously launched for sale by expression of interest in September 2023 with an asking price of $95 million, 26.7% above the transacted price.

The new buyer is understood to be seeking approval to redevelop the property into a hospitality asset. The site’s location just off Orchard Road, lends itself to that: just across the road is the luxury hotel Pan Pacific Orchard, which opened in 2023 with 347 rooms. It is a redevelopment of the former Negara Hotel by UOL Group.

Redevelopment momentum is building up in the area. In May 2024, City Developments Ltd (CDL) acquired Delfi Orchard en bloc for $439 million. Before its en bloc purchase, CDL already owned an 84% stake in the 11-storey freehold building.

CDL is expected to explore the redevelopment of Delfi Orchard alongside Orchard Hotel and Claymore Connect, which CDL Hospitality Trusts hold. A June report by DBS estimated that the three properties could be transformed into a new mixed-use development with a gross development value of $2 billion to $3.2 billion.

Read also: Daughter of UOL Group CEO buys unit at UpperHouse, Orchard Boulevard

According to Singh, interest in prime Orchard Road sites remains strong, although a mismatch in price expectations between buyers and sellers has limited transactions. “This is particularly evident in collective sales, where fragmented ownership leaves little flexibility to price properties at market-realistic levels,” he notes.

Even so, strong sales at recent luxury launches have helped narrow this gap. At UpperHouse on Orchard Boulevard, a 301-unit, 99-year leasehold condominium by UOL and Singapore Land Group, 63% of units have been sold since mid-July at an average price of $3,356 psf.

Similarly, at Wing Tai Holdings’ River Green in prime District 9, 88% of the 524 units were snapped up during its launch weekend at an average price of $3,130 psf.

Closer to the bungalow at 11 Claymore Road, a 3,326 sq ft, four-bedroom unit on the 26th floor of Sculptura Ardmore was purchased by a Singapore permanent resident for $20 million in July. The unit price of $6,013 psf not only set a new benchmark for the 34-unit luxury freehold development by SC Global Developments, but also established a record for the Ardmore Park neighbourhood. Completed in 2014, the 36-storey tower remains one of the area’s most exclusive addresses.

Check out the latest listings for Sculptura Ardmore, Delfi Orchard properties