64 Wilkie Road, a freehold residential building in Singapore, will be relaunched for collective sale via tender on April 6th by marketing agent Propnex Realty. With a guide price of $10 million, the property offers a generous $1,348 psf per plot ratio (psf ppr) including the 7% balcony space and land betterment charge (LBC).
The five strata unit building sits on a site spanning 3,306 sq ft zoned for residential use with a gross plot ratio of 2.1, according to the URA Master Plan 2019. In November 2022, the property at 64 Wilkie Road was launched for collective sale together with an adjacent site at 62 Wilkie Road for $19.5 million. However, this tender closed without any bids.
Tracy Goh, head of investment and collective sales at PropNex, explains that the successful tenderer of the building can add an additional apartment, bringing the gross floor area to 645 sqm (6,943 sq ft). This can further boost the recurring rental income from the building.
Goh also expects strong interest from local developers and investors for the property, due to its pricing, freehold tenure and its city-centre location in District 9. Neighbouring the property are MRT stations such as Dhoby Ghaut, Rochor and Bencoolen.
Capitaland is set to redevelop JCube into a 40-storey mixed-use J’Den Condo development, J’den Condo, offering residential and commercial space to Jurong East by 2027. The development is expected to launch in the second half of 2023.
The area is also home to a number of shopping destinations, such as Plaza Singapura, Bugis Junction, Mustafa Centre, City Square Mall and GR.iD mall. Additionally, there are various eateries located in the nearby Prinsep Street, Selegie Road and Little India. Residents will benefit from the presence of nearby schools such as Anglo-Chinese School (Junior), Farrer Park Primary School and River Valley Primary School.
To ensure that all potential bidders have enough time to consider their options, the collective sale tender will close on the 12th of May at 2pm. With its myriad of amenities and its convenient location, strong interest is anticipated for the tender.
