Freehold development Starpoint up for collective sale at $50.5 mil
Located on Pasir Panjang Road, Starpoint was designed by pioneering architect Lim Chong Keat (Picture: Samuel Isaac Chua/The Edge Singapore)
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Starpoint, a residential development located at 319 Pasir Panjang Road in District 5, is up for collective sale by tender. The freehold development, comprising a 10-storey tower and a landed house, has a guide price of $50.5 million. This is the first time the property is being put up for en-bloc sale.
Completed in 1980, Starpoint has just nine units across the tower and the landed house, which both have a unique hexagonal shape. The property was designed and built by Penang-born architect Lim Chong Keat, a co-founder of the influential Malayan Architects Co-partnership and Architects Team 3.
Lim worked on several landmark buildings constructed in Singapore and Malaysia during the post-independence period, including the Singapore Conference Hall & Trade Union House, Jurong Town Hall, the Malaysia-Singapore Airlines Building, the original DBS Building on Shenton Way, Komtar in Penang, and the Seremban State Mosque.
Starpoint occupies a freehold land plot at the corner of Pasir Panjang Road and Science Park Road. Measuring approximately 37,797 sq ft, it is zoned for residential use with a gross plot ratio of 1.4 under the URA Master Plan 2019. The site could potentially be redeveloped up to a gross floor area of 52,915 sq ft, subject to the relevant authorities’ approval.
Jeremy Rikas Chiu, group division director at ERA Realty Network, who is handling the sale, says the future development could be a private apartment with about 49 units, based on an average apartment size of 1,076 sq ft. Alternatively, the site could accommodate a serviced apartment or student hotel with 98 units, assuming an average unit size of 538 sq ft.
According to ERA, the guide price for Starpoint translates to a land rate of about $1,338 psf per plot ratio, inclusive of the Land Betterment Charge payable.
Based on caveats lodged with URA, the last unit to change hands at Starpoint was a 3,671 sq ft unit that fetched $4 million ($1,090 psf) in June 2023. Before that, the last resale transaction recorded was in July 2010, when a 1,819 sq ft unit sold for $1.3 million ($715 psf).
The tender for Starpoint will close on Oct 16 at 1pm.
Check out the latest listings for Starpoint properties
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