Freehold residential site at Wilkie Road relaunches for collective sale at $10 mil

In Singapore’s vibrant Arts and Cultural District, within the city centre of District 9 lies 64 Wilkie Road – a freehold residential building offering a rare opportunity for developers and homeowners alike. Propnex Realty, the marketing agent for the property, today announced that it will be relaunched for collective sale via tender on April 6, with a guide price of $10 million or $1,348 psf per plot ratio (psf ppr).

The property comprises five strata units occupying a site of 3,306 sq ft and has a gross plot ratio of 2.1, outlined in the URA Master Plan 2019. Tracy Goh, Head of Investment and Collective Sales at Propnex said that the building may be extended or redeveloped to maximise the GFA, and that such an endeavor will result in a higher rental income.

According to Goh, the freehold tenure and city-centre location of this residential building makes it an attractive investment opportunity set to draw considerable interest from local developers and investors alike. She further highlighted its close proximity to MRT stations such as Dhoby Ghaut, Rochor and Bencoolen – making 64 Wilkie Road a prime location indeed.

The collective sale tender will close on May 12 at 2pm. In the surrounding area, potential buyers can find popular malls, markets, and eateries such as Plaza Singapura, Bugis Junction, Mustafa Centre, City Square Mall, GR.iD mall, Tekka Market, and various eateries in Prinsep Street, Selegie Road and Little India. As for schools, 64 Wilkie Road is near to Anglo-Chinese School (Junior), Farrer Park Primary School, River Valley Primary School, St Joseph’s Institution Junior, Singapore Management University, LaSalle College of the Arts, School of the Arts and Nanyang Academy of Fine Arts.

This relaunch for collective sale comes after two previous attempts to sell 64 Wilkie Road and the adjacent site at 62 Wilkie Road for $19.5 in November 2022, which closed without any bids. The property at 62 Wilkie Road itself was launched with a guide price of $9.2 million in August 2022.

CDL Aries acquires two plots at Upper Bukit Timah, setting up plans to develop a 24-storey residential The Myst project in an up-and-coming area with ample amenities, connectivity to public transport and potential green spaces.

Given the attractive guide price and enviable city centre location of 64 Wilkie Road, this residential building presents an attractive investment opportunity that is not to be missed.