Freehold site Sutton Place up for sale at $268m

It has five storeys that can be redeveloped into 198 apartment units.

The freehold redevelopment site Sutton Place in Farrer Road is up for sale at $268m, an announcement revealed. The five-storey property includes 44 apartments with a site area of 8,657 sqm.

The site can be redeveloped to a new condominium with 198 apartment units having an average size of 753 sq ft. The land plot is said to be regular in shape and is elevated away from traffic.

Sutton Place is situated in close proximity to food and beverage outlets within Holland Village, Chip Bee Gardens and Dempsey Hill. It is also near schools such as Nanyang Primary School, Raffles Girls’ Primary School, and The Chinese High School, amongst others.

In addition, the property is within 500 metres from Farrer Road MRT station on the Circle Line and accessible through Farrer Road, the Ayer Rajah Expressway (AYE) and the Pan-Island Expressway (PIE). The site is also a quick 10 to 15 minutes’ drive away to Orchard Road and the Central Business District.

Subject to authorities’ confirmation, a development charge of approximately $17.88 m is payable for the development of the property, translating to a land rate of approximately S$1,917 psf ppr.

The tender for Sutton Place will close on 6 September 2018 at 3 pm.