Trendale Tower in Newton launched for collective sale at $168 mil
URA’s indicated support for SA2 use could broaden developer interest beyond luxury residences, potentially adding long-stay accommodation and recurring-income supply in District 9.
Trendale Tower in Newton has launched for collective sale at $168 million, equivalent to approximately $2,248 psf ppr after the 7% balcony bonus GFA.
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Freehold residential development Trendale Tower, located at 79 Cairnhill Road, has been launched for collective sale by public tender. The site spans 21,709 sq ft and has a guide price of $168 million.
This translates to a land rate of approximately $2,248 psf per plot ratio (ppr), after factoring in the 7% bonus gross floor area (GFA) allowed for balconies, says Knight Frank Singapore, which is marketing the property.
Completed in 1982, Trendale Tower is a 20-storey development with 18 apartments. The property has a GFA of 72,691 sq ft and is zoned for residential use with a gross plot ratio 2.8 under URA’s Master Plan 2025.
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The site could be redeveloped into a boutique luxury residential development or a long-stay serviced apartment project.
According to Knight Frank Singapore, URA has indicated support for Serviced Apartment 2 (SA2) use, subject to the relevant approvals and regulatory requirements, under an outline planning permission application.
“For investors who would rather hold than sell, URA’s indication of support for a SA2 scheme allows the entire block to be retained for recurring income,” says Dayna Ang, senior manager at Knight Frank Singapore.
Located in prime District 9, Trendale Tower is within a five-minute walk from Newton MRT Interchange, which is one stop away from retail and lifestyle options at Orchard Road. The apartment complex is also a 10-minute drive from integrated healthcare hub HealthCity Novena.
The Newton area is set to become a “vibrant mixed-use urban village” under the URA Master Plan 2025, with sustained developer interest in the precinct, says Knight Frank Singapore.
Last year, a 63,498 sq ft government land sale (GLS) site at Bukit Timah Road was awarded to HH Investment for $566.29 million ($1,820 psf ppr).
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Following that, a GLS site at Peck Hay Road drew four bids on June 11, and was awarded to the highest offer of $542.4 million ($1,865 psf ppr) to a joint venture between City Developments and Hong Realty.
Melvin Chay, senior director at Knight Frank Singapore, notes that around 5,000 homes are planned across Monk’s Hill, Newton Circus and Scotts Road over the next decade, with just over 650 units already committed.
“Trendale Tower offers incoming purchasers the opportunity to be a first mover in a fast rejuvenating precinct,” he says.
The public tender exercise for Trendale Tower will close on Oct 23 at 3pm.
Check out the latest listings for Trendale Tower properties