This works out to a land rate of around $2,377 per sq ft per plot ratio (psf ppr) or about $2,287 psf ppr should the 7% bonus gross floor area for balconies are taken into consideration. Photo: CBRE
The Bayron, a two-block condominium in District 9, has been relaunched for sale with the guide price unchanged at $376 million, revealed exclusive marketing agent CBRE.
This works out to a land rate of around $2,377 per sq ft per plot ratio (psf ppr) or about $2,287 psf ppr should the 7% bonus gross floor area for balconies are taken into consideration.
With a total strata floor area of 112,300 sq ft, the 96-unit development holds dual addresses at 13 Devonshire Road and 49 Saint Thomas Walk. It occupies a 56,481 sq ft freehold site that is zoned for “Residential” use under the 2019 Master Plan with a plot ratio of 2.8 and a height limit of up to 36 storeys.
The maximum allowable gross floor area for the site is about 159,893 sq ft or 169,218 sq ft if the 7% bonus gross floor area for balconies is included.
The condo features dual frontages; one 24m frontage along Devonshire Road, and a 64m frontage along Saint Thomas Walk. It is situated on an elevated plot, near Somerset MRT station as well as malls along Orchard Road.
It is also within walking distance to Fort Canning Park and Singapore River, while nearby educational institutions include River Valley Primary School and Chatsworth International School (Orchard Campus).
CBRE’s Head of Capital Markets for Singapore Michael Tay noted that interested developers took a conservative approach during its previous launch in September last year due to the uncertainty surrounding the economy and the COVID-19 situation.
But with more countries putting in place COVID-19 vaccinations, “we envision a positive outlook for the residential sector with foreign buying expected to gradually return,” he said.
“The Bayron presents a rare opportunity for developers seeking quality freehold sites at a strategic location to increase their land bank. As the site is located within the Central Area, the ‘85-sqm’ rule does not apply in the calculation of the maximum number of dwelling units per development,” explained Tay.
“This provides developers the flexibility in configuring the new development to accommodate units of a smaller size, which will be attractive and affordable to buyers who may be looking to downsize and retire, and millennials seeking smaller dwelling units in a prime yet extremely connected location.”
The public tender exercise for The Bayron closes on 6 April.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: email@example.com