Collective sale tender for Orchard Bel Air reopens
The property has a guide price of $587.5m.
Knight Frank Singapore has re-launched the collective sale of Orchard Bel Air by public tender.
The tender for the property will close at 3 pm on 1 March 2023.
The guide price for Orchard Bel Air is $587.5m, translating to a land rate of approximately $2,620 per square foot per plot ratio (psf ppr) after factoring in an upgrading premium of approximately $136m for the lease top-up.
“Taking into consideration the 7% bonus gross floor area allowed for balconies, this translates to approximately S$2,551 psf ppr,” Knight Frank, the property’s sole marketing agent, said.
Orchard Bel Air sits at a plot that has a land area of 8,651.70 square metres (sqm) or approximately 93,126 square feet (sq ft), with a Gross Plot Ratio of 2.8 under the Master Plan 2019.
“It has the potential to be redeveloped up to its existing verified Gross Floor Area of 25,668 sqm or approximately 276,298 sq ft at a Gross Plot Ratio of 2.96,” Knight Frank said.