Freehold condo Sutton put up for sale at $268m

Sutton Place is a five-storey residential development located along Farrer Road. According to Knight Frank Singapore, it has been put up for sale with a fixed price of about $268 million.

Based on the confirmation from related authorities, a development charge of $17.88 million is allocated for the redevelopment of the freehold condo. This is converted to a land rate of $1,917 psf per plot ratio.

The 44-unit development is located on approximately 93,815 sq ft. The residential site is zoned under the 204 Master Plan including an acceptable plot ratio of 1:6. Also, the site is not focusing on the pre-application feasibility study, and it can be redeveloped into a condominium project of 198 units averaging 753 sq ft, before the Urban Redevelopment Authority’s approval.

Sutton Place is located within 500m from Farrer Road MRT station. It is connected to other areas of Singapore through the Pan-Island Expressway, Ayer Rajah Expressway, and Farrer Road. Also, it is closer to the Central Business District and Orchard Road. Other successful enbloc done in the past one year are like Parc Esta, formerlly EunosVille HUDC.

Furthermore, the development is located close to Chip Bee Gardens, Holland Village and Dempsey Hill. It has notable schools such as Raffles Girls Primary School, National Junior College, Anglo-Chinese School (International), Hwa Chong Institution and Nanyang Primary School.

According to Ian Loh (executive director of investments and capital markets in Knight Frank Singapore) “Regardless of the cooling measures, the price quantum is affordable, and the potential for less than 200 units is a low-risk achievement to developers”.