Leasehold redevelopment site in Jalan Merbok for sale; potential for senior living use
The offering signals anticipated demand for senior-care assets as residents aged 65 and above reach 21.6% of Singapore’s population, potentially encouraging specialised development.
A 94,907 sq ft Jalan Merbok redevelopment site with a fresh 103-year lease has launched for EOI without a guide price, potentially for senior living use.
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A plot of land at Jalan Merbok, off Jalan Jurong Kechil, has been launched for sale via an expression of interest (EOI) exercise.
No guide price has been indicated for the site, according to exclusive marketing agent Knight Frank Singapore. Interested parties are invited to submit an offer together with a proposed concept for the site.
The 94,907 sq ft site is zoned for “Educational Institution” use under the URA Master Plan 2025, and will come with a fresh 103-year leasehold tenure.
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Preferred uses include senior living and care facilities such as assisted living, a nursing home, day care centre or training centre for health and medical care, subject to the relevant planning and regulatory approvals, adds the firm.
The site is next to an existing spirituality centre run by non-profit Canossa Mission Singapore, the local mission arm of the Canossian Sisters, at 100 Jalan Merbok.
A project on the redevelopment site could thus potentially serve as a care and community campus that is complementary to the spirituality centre, Knight Frank suggested.
“This co-location provides the potential for a differentiated environment centred on care, wellbeing, reflection and community engagement, while the respective uses remain independently operated,” the marketing agent added.
Located in the Toh Tuck landed housing area, near Bukit Batok, Beauty World and Upper Bukit Timah, the site sits within a mature residential catchment of both private and public housing.
“As senior residents’ care needs evolve, it is ideal for them to transit between different levels of support while remaining within the subject site, helping to reduce disruption for both residents and their families,” said Melvin Chay, interim head of capital markets at Knight Frank Singapore.
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Mary Sai, executive director of capital markets at Knight Frank Singapore, expects demand for senior living and care assets to increase as Singapore’s population ages, with those aged 65 and above currently making up 21.6% of the population.
“The subject site offers investors and operators the opportunity to create a differentiated senior-living proposition centred on improved care, wellbeing and quality of life,” said Sai.
The EOI exercise will close on Nov 6 at 3pm.