Cairnhill Mansions to be launched for collective sale at $2,101 psf ppr

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/ EdgeProp
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October 5, 2017 7:28 PM SGT
Cairnhill Mansions is set to be launched for collective sale via public tender in a few weeks’ time. Strategically located at Cairnhill Road next to The Ritz-Carlton Residences, Singapore, the guide price for Cairnhill Mansions is $362 million, or $2,101 psf per plot ratio (ppr), says marketing agent CBRE.
The existing development is 61-unit, 18-storey condominium block sitting on a land area of 43,103 sq ft, with maximum gross floor area (GFA) of 172,239 sq ft, including a 10% bonus GFA for balconies. The new development could therefore yield 140 units, assuming an average size of 1,200 sq ft for the new units, according to CBRE.
A redevelopment on the Cairnhill Mansions site will be able to capitalise on the potential 36-storey height for “unblocked, 360-degree views of Singapore’s skyline, featuring the lush greenery of Goodwood Hill, the CBD skyline, and beyond.”
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Source: CBRE
Located within walking distance of the Orchard Road shopping belt and Newton MRT interchange station, Cairnhill Mansions is nestled within an enclave with luxury high-rise residential developments such as The Scotts Tower, Ritz-Carlton Residences and Reignwood Hamilton Scotts. In addition, Cairnhill Mansions is located within a 1km radius of Anglo-Chinese School (Junior).
Galven Tan, director of capital markets at CBRE, expects strong interest from local and overseas developers given the site’s prime location and “palatable deal size”.