GCB plots at Eden Hall relaunched for sale

The British government has re-launched for sale the two adjoining plots of land on the eastern side of the garden at Eden Hall, the official residence of the British High Commissioner to Singapore. The new guide price has been revised down to $1,700 psf for the front plot (Plot A) and $1,630 psf for the rear plot (Plot B). According to CBRE, who is marketing the sites, interested parties may bid for either plot of land or both.
Plot A has an estimated land area of 18,618 sq ft and a 34 metres road frontage to Nassim Road. Meanwhile Plot B sits on an elevated land measuring approximately 15,634 sq ft. Both sites have a combined area of 34,252 sq ft and are zoned for residential use within the designated Good Class Bungalow Area (GCBA) of Nassim Road.
Prior to this, the land was put up for sale by tender exercise in January at a guide price of $2,200 psf for Plot A and $2,000 psf for Plot B. According to Sammi Lim, CBRE director of investment properties, the tender received strong interest from the public but was unsuccessful as the highest bid price fell short of the internal reserve price. She attributed the shortfall to weak market sentiment experienced in early January against a backdrop of global stock market volatility and concerns over China’s slowdown.
The Public Tender for the sites will close on 3 August 2016, Wednesday at 4 pm