Two apartment blocks on Wilkie Road launched for collective sale at $19.5 mil

SINGAPORE (EDGEPROP) - Two neighbouring apartment blocks at 62 and 64 Wilkie Road will be put up for collective sale via tender on Nov 1. PropNex Realty is the sole marketing agent for the sale.

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The combined freehold site is priced at $19.5 million, and this translates to a land rate of $1,485 psf per plot ratio, which includes the 7% bonus balcony space and land betterment charge.

The apartment block at 62 Wilkie Road comprises three units, while the block at 64 Wilkie Road consists of five units. Collectively, the properties sit on a 5,849 sq ft site that is zoned for residential use with a gross plot ratio of 2.1 under the latest Master Plan.

According to PropNex, the site could be redeveloped into a boutique residential project with 26 units housed in an eight-storey development.

“We expect keen interest from local developers for this collective sale site, owing to its affordable pricing, attractive location in District 9 in the city centre, its freehold land tenure, and proximity to a number of MRT stations,” says Tracy Goh, head of investment and collective sales at PropNex.

Nearby MRT stations include Dhoby Ghaut Interchange, Bencoolen, Little India, Rochor, Bras Basah, and Bugis stations. Meanwhile, schools in the vicinity are Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School, St Joseph’s Institution Junior, Singapore Management University, LaSalle College of the Arts, School of the Arts, and Nanyang Academy of Fine Arts.

“This tender presents a rare opportunity for developers to acquire a prime freehold residential site in the heart of Singapore’s vibrant arts and cultural district in the city,” Goh adds.

The collective sale tender will close on Nov 22.