Balestier Regency relaunched for collective sale at unchanged price of $255 mil
The scarce city-fringe freehold site and potential redevelopment into up to 161 apartments may appeal to developers with a medium- to long-term market outlook.
Balestier Regency has been relaunched for collective sale at an unchanged $255 million, equivalent to approximately $1,473 psf ppr, with tender closing on Nov 12.
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Balestier Regency, a freehold 10-storey apartment at 4 Jalan Ampas, has been relaunched for collective sale by public tender with a guide price of $255 million.
The price is unchanged from when the 72-unit development last launched for tender in May.
“Given the limited availability of sizeable freehold redevelopment sites in the city-fringe market, we believe Balestier Regency remains a relevant acquisition opportunity for developers taking a medium- to long-term view of the market,” commented Low Choon Sin, managing partner of SRI Capital Market in an Oct 13 release. SRI is handling the sale of the site.
The price reflects a land rate of approximately $1,473 psf per plot ratio (psf ppr), including a land betterment charge (LBC) of about $381,181 (based on September 2026 rates).
Read also: Freehold residential site on Joo Chiat Terrace up for sale at $17.5 mil
If the LBC and bonus gross floor area (GFA) for balconies are factored in, the land rate works out to $1,437 psf ppr.
Completed in 1990, Balestier Regency occupies a 61,931 sq ft residential site with a gross plot ratio of 2.8. This translates to a maximum GFA of approximately 173,407 sq ft.
As the development enjoys a high baseline of 2.793, only a nominal LBC is payable, according to SRI. The site can potentially be redeveloped into a new project with up to 161 apartments.
The tender will close at 3pm on Nov 12.
Check out the latest listings for Balestier Regency properties