Braddell View owners revive en bloc bid for $2.08b

It was earlier put up for sale on 27 March.

Braddell View estate, one of the largest residential sites in Singapore, has been relaunched for en-bloc sale until 25 September, with an unchanged reserve price of $2.08b, Colliers International revealed in a press release.

The property was originally put up for sale on 27 March.

"Understandably, developers are assessing the risks associated with acquiring a large site. That said, there are ways to mitigate these risks - forming a consortium to undertake development being one of them," Colliers managing director Tang Wei Leng said.

Also read: En-bloc hopefuls struggle in Singapore's weakening property market

Factoring the 7% bonus balcony Gross Floor Area, estimated differential premium, and a lease topped up to 99 years, the land rate costs about $1159 psf per plot ratio.

Owners of residential units could receive $2.04m to $4.03mm each depending on the size of their property, whilst commercial shop owners could receive $529,000 to $1.2m.

Braddell View sits on a hilltop site around 106,121.1 sq m overlooking MacRitchie Reservoir Park. It comprised two shops and a total of 918 apartment, maisonette, and penthouse units, and has a lease tenure of about 102 years effective 1 February 1978.

It is zoned Residential under the Draft Master Plan 2019, with a Gross Plot Ratio of 2.1. It has a proposed total Gross Floor Area of 222,854.3 sq m.

Colliers estimated that a maximum of 2,620 new residential units with a size of 85 sq on average could be built on the site.

Surrounding the site are the Braddell, Marymount, and Caldecott MMRT stations.

The estate is also near Bishan Sub-Regional Centre, which will be transformed into a business hub under the Draft Master Plan 2019.

It is also located near Mount Alvernia Hospital and Health City Novena, as well as schools like Marymout Convent School, Raffles Institution, Raffles Junior College, Catholic High School, CHIJ Secondary (Toa Payoh), and Raffles Girls' School.