Sutton Place launched its third enbloc attempt on 9 Feb 2023, at a guide price of S$285 million, which was the same guide price as its earlier attempt which closed on 15 Sep 2022 without a deal.
Its first attempt at a collective sale was in 2018 at a reserve price of S$268 million.
The 5-storey condominium comprises 44 units on a land area of approximately 93,183 sqft.
Based on the S$285 million guide price and after factoring in a land betterment charge of about S$22.73 million, the land price works out to S$2,064 psf ppr.
|PROJECT NAME||SUTTON PLACE|
|STREET NAME||FARRER ROAD|
|LAND SIZE (SQM)||8,663|
|MASTER PLAN GFA (SQM)||13,861|
|MASTER PLAN PLOT RATIO||1.6|
|DISTRICT / PLANNING AREA||D10 / TANGLIN|
|NUMBER OF UNITS||44 UNITS|
8 Feb 2023
SUTTON Place, a freehold residential development at 24, 26 and 28 Farrer Road in prime District 10 will be relaunched for collective sale on Thursday (Feb 9). Its guide price remains at S$285 million after the last attempt closed on Sep 15 last year without a deal.
This is the third time Sutton Place is going on the market, with its first attempt in 2018 at a reserve price of S$268 million.
The five-storey condominium comprises 44 units on a land area of approximately 93,183 square feet (sq ft). Based on the S$285 million guide price and after factoring in a land betterment charge of about S$22.73 million, the land price works out to S$2,064 per square foot per plot ratio (psf ppr), said marketing agent Colliers.
The site has a development baseline of approximately 130,201 sq ft or about 87 per cent of the allowable gross floor area (GFA), which Colliers says will provide some buffer on the land betterment charge payable by the successful bidder.
Inclusive of the 7 per cent bonus balcony area, the GFA will increase to approximately 159,531 sq ft, which will lower the land price to S$2,007 psf ppr.
10 Aug 2022
FREEHOLD Sutton Place at 24, 26 and 28 Farrer Road in prime District 10 has been put up for collective sale via public tender at an indicative price of S$285 million.
Marketed by Colliers, Sutton Place is a 5-storey residential development comprising 44 units on a site measuring about 93,183 square feet (sq ft).
According to the Urban Redevelopment Authority's (URA) Draft Master Plan 2019, the site is zoned for residential use and has an allowable gross plot ratio of 1.6. It has a development baseline of approximately 130,201 sq ft, or about 87 per cent of the allowable gross floor area (GFA), which Colliers says "will buffer any increase in development charge rates for prospective developers".
Based on the indicative price of S$285 million and a development charge payable of about S$20.89 million, this will translate into a land price of S$2,052 per square foot per plot ratio (psf ppr).
24 July 2018
THE owners of Sutton Place, a freehold development off Farrer Road, have put the property up for collective sale by tender, with a reserve price of S$268 million.
At that price, the land rate for the site works out to S$1,917 per square foot per plot ratio, after factoring a development charge of about S$17.88 million, which is subject to confirmation from the relevant authorities, said Knight Frank Singapore, its sole marketing agent.
23 July 2018
FREEHOLD residential redevelopment site Sutton Place has been put up for sale by tender with a reserve price of S$268 million, Knight Frank Singapore announced on Monday.
Located 500 metres from Farrer Road MRT station, the five-storey development comprising 44 apartments sits on a site measuring about 93,185 square feet. It is well-connected to other parts of Singapore via Farrer Road, the Ayer Rajah Expressway and the Pan-Island Expressway.
The site is zoned "residential" under the Urban Redevelopment Authority's (URA) 2014 Master Plan, with an allowable plot ratio of 1.6, and will not require a pre-application feasibility study. Subject to approval from the URA, it can be redeveloped into a condominium with 198 apartment units averaging 753 sq ft, said Knight Frank, which is the sole marketing agent for the site.