Find out on this freehold residential development, Wilshire Residences, in District 10, please click on the following links:
Wilshire Residences is an upcoming Freehold condominium situated in the Holland – Farrer Roads area in the prime District 10 of Singapore. It is near Farrer MRT Station and features only 20 residential units. Roxy Pacific Holdings, a Singapore-listed property developer, partnered with TE2 Development, a Singapore-based privately held company, to acquire this freehold property for $98.8m in a collective sale.
The buying price is equivalent to a land rate of $1536 per square foot per plot ratio. This freehold property won’t attract any development charge thanks to its already high development baseline. Suzie Mok, the head of investment sales at Savills Singapore who has done this collective sale, observes that the land rate would drop to $1,455 psf ppr upon deducting a development fee of $4.1m for 10 percent extra gross floor area (GFA) balcony space.
(Pending approval for Sale / Seeking indication of interest)
WILSHIRE RESIDENCES LOCATION MAP
Currently, The Wilshire is an eight-story building that consists of 20 units of between 2,196 sq. ft. and 5,662 sq. ft. Each owner will most likely pocket proceeds of about $3.76m and $7.46m from the en bloc sale. The asking price of the site was $98.07m, which was slightly lower than its sale price.
The Holland-Farrer Roads neighbourhood is one of the highly sought-after residential development areas in Singapore. It is home to prominent shopping destinations, dining options, medical centers, reputable learning institutions, and attractive chill spots. Some of the most recent developments in this neighbourhood are GuocoLand’s Leedon Residence and CapitaLand’s D’Leedon. These two developments have enjoyed a good reception, especially from the wealthy class of property developers.
Savills observed that the demand for excellent plots for boutique developments like The Wilshire would remain high among many property developers who are hopeful of an upsurge in the luxurious residential market.
WILSHIRE RESIDENCES PRICE
The following image from 99.co shows some recent developer sales units in district 10 including the recently launched Fourth Avenue Residences, with an average price of about S$2,401psf. The 3 Cuscaden, 120 Grange and the 3 Orchard by the Park are also included. As for the Wilshire Residences price, please contact us at 61001778 for the full price list.
|Project Name||Wilshire Residences|
|Address||30, Farrer Road, Singapore|
|Developer||TE2KS-RH Private Limited (Tong Eng Group, Roxy-Pacific Holdings Pte Ltd and Kim Seng Holdings Private Limited)|
|Description||Proposed residential development with recreational facilities|
|Total Units||About 85 units|
|Site Area||Approx. 3,635.3 square meters|
|Expected T.O.P.||31st July 2023|
|Expected Completion||31st July 2026|
|Unit Types||1 to 4 bedroom units and Penthouses|
MORE ABOUT THE DEVELOPER
Roxy Pacific Holdings is a reputable property development and hospitality group that concentrates on the Asia-Pacific region. Its stellar track record spans back to May 1967 when it opened its doors. The Group develops and sells both commercial and residential properties. It also owns and manages several high-end hotels in the Asia-Pacific.
TE2 Development is an established property development that acts as the family office of Teo Tong Lim, the current managing director of Tong Eng Group. The company has pocketed highly coveted awards in Singapore’s highly competitive real estate sector for its ability to incorporate creativity and modern designs in property development. TE2 Development continues to play a formidable role in helping Tong Eng Group stamp its ground in Singapore’s real estate landscape.
WILSHIRE RESIDENCES SITE PLAN
The Wilshire occupies a freehold plot of 3,635.3 square meters. According to the Master Plan 2014, the site is reserved for residential development, and the height limit for this freehold development is 12 stories while the maximum GFA stands at 64,310 square feet. The developer will build 2 tower blocks of 12-levels residential buildings with 85 units. There will be a variety of 1 to 4 bedroom units plus penthouses for future residents. Moreover, this freehold development will be cladded with quality finishes and smart home systems for every household.
WILSHIRE RESIDENCES BROCHUREWilshire-Residences-Floor-plans
WILSHIRE RESIDENCES SHOWFLAT PREVIEW REGISTRATION
PLEASE DIAL SHOWFLAT HOTLINE : (+65) 6100 1778