Chancery Court sold en bloc for $401.78m

It can be redeveloped into a five-storey residential development with a maximum of 481 units.

Chancery Court, a privatised HUDC estate located in prime District 11, has been sold collectively for $401.777m, OrangeTee Advisory announced. The sale price is about 6% higher than the reserve price.

According to an announcement, the land rate of $1,610 psf ppr includes a differential premium and lease upgrading premium of approximately $182.4m to redevelop the site to a gross plot ratio (GPR) of 1.4 based on the maximum permissible Gross Floor Area (GFA) of approximately 362,788 sqft and to top up the lease to a fresh 99 years.

The residential and commercial owners will stand to receive a gross sale price of approximately $1.8m to $3.5m and $934,000 to $4.7m respectively upon a successful sale.

Chancery Court consists of 136 residential units and eight commercial units. It has a 16-storey tower block and 7 blocks of 4-storey walk-up maisonettes on a site area of approximately 259,134 sqft.

Chancery Court is within 1km to many reputable schools in District 11 and less than 10 minutes’ walk to the Newton MRT Interchange. It is also easily accessible to other parts of the island via Pan Island Expressway (PIE) and Central Expressway (CTE).

OrangeTee Advisory commented, “Subject to authorities’ approval, the site can be redeveloped into a five-storey residential development with a maximum of 481 units, based on average size of 70 sqm.pre-application feasibility study on traffic impact (PAFS) was commissioned by us and it has provided certainty to developers during the bidding process. The recent collective sale sites sold along Bukit Timah Road, Dunearn Road and Balmoral Road have exhibited developers’ confidence in the locality and the rarity would enhance its desirability to the end users and investors. We are certain that the redevelopment of Chancery Court will value add to the impending rejuvenation of the area.”

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia