The plot may be developed up to 36 storeys with a gross floor area of 6,753.2 sqm.
The en bloc sale of Trendale Tower located along Cairnhill Road has been launched at a reserve price of $163.52m or a land rate of $2,250 psf ppr, Savills Singapore announced.
Occupying a land area of 2,016.8 sqm (or 21,708 sqft), the 20-storey freehold development accommodates 18 apartments of 298 sqm each. Under the 2014 Master Plan, the site is zoned for residential use with a gross plot ratio of 2.8.
Savills said the plot may be developed up to 36 storeys with an allowable gross floor area of 6,753.2 sqm (or 72,690 sqft) with no development charge.
Completed in the 1980s, Trendale Tower enjoys connectivity to expressways and is also a stroll to the Newton MRT Interchange station for the North-South Line and Downtown Line.
It is close to reputable schools such as ACS (Junior and Primary), SJI Junior, and Singapore Chinese Girls' Primary School.
"Prices for prime properties in Singapore are recharging itself for a major upward push. In this new pricing regime, benchmark prices achieved in the 2007-2012 period are either matched or perhaps re-rated higher," commented Alan Cheong, head of research at Savills Singapore.
The tender for Trendale Tower will close at 3 p.m. on 25 June 2018.
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