Presently, there are 3 apartments at 62 Wilkie Road and 5 apartments at 64 Wilkie Road. According to the URA Master Plan 2019, the combined 5,849 square foot lot on which the two apartment buildings stand is allocated for residential use at a gross plot ratio of 2.1. All of the land, including the 7% additional balcony space and land improvement tax, is listed at $19.5 million, for a land cost of $1,485 psf per plot ratio.
LIV on Wilkie is just one of several Wilkie Road residences that has done very well in recent transactions.
Several MRT stations, including Bencoolen, Rochor, Dhoby Ghaut, Bras Basah, Little India, and Bugis, are within walking distance of Wilkie Road, making it convenient for residents to access the rest of the city through the city’s five separate MRT lines (North-East, Circle, North-South, East-West Lines, and Downtown).
PropNex’s Head of Investment and Collective Sales Tracy Goh stated, “We anticipate a high level of interest from domestic developers for this collective sale site, due to its reasonable price, appealing position in District 9 in the city center, its freehold tenure security, and accessibility to a variety of MRT stations, which give good connection to the rest of Singapore, notably Marina Bay, Orchard Road, and the Central Business District.” Since freehold land is in short supply throughout the city, this offer gives builders a once-in-a-lifetime chance to purchase a premium property in Singapore’s buzzing Arts and Cultural District.
You can find a variety of renowned schools like LaSalle College of The Arts (McNally Campus), St. Joseph’s Institution Junior, St. Margaret’s Primary School, Anglo-Chinese School (Junior), and Chatsworth International School all within a short distance of the site.
In addition, a wide variety of services and facilities are conveniently located nearby. Many restaurants can be found on Selegie Road, Prinsep Street, and in Little India, while other popular shopping and entertainment areas include Plaza Singapura, GR.ID mall, Mustafa Centre, Bugis Junction, City Square Mall, Tekka Market, and the surrounding area.
The land is 1,141 square meters in size, or roughly 12,282 square feet, giving the lucky bidder plenty of room to construct an 8-story residential tower with 26 apartments (36 metres height limit). New flats and condos in the Central Space will be obliged to supply a minimum threshold of 20% of DUs with something like a nett interior area of at least 70 sq m, therefore, this change in the standards has been used to calculate the anticipated project size (effective from January 18, 2023).
There will be a collective sale tender deadline of 2 p.m. on November 22, 2022.