Orchard condo The Beaumont relaunched for sale with lower S$468m guide price

by Albert02

Orchard condo The Beaumont relaunched for sale with lower S$468m guide price

Orchard condo The Beaumont relaunched for sale with lower S$468m guide price. Freehold project The Beaumont was earlier listed for sale in December 2021 with an asking price of S$478 million. It has now been restored to the market for collective sale with a slightly lowered suggested price of S$468 million.

The new guideline price was determined by exclusive selling agent Savills to be S$2,448 per square foot per plot ratio (psf ppr). A $44.4 million development fee has been imposed. After accounting for the 7% bonus gross floor area (GFA), the development charge will rise by S$17.3 million, but the price will drop to S$2,366 psf ppr.

The boutique building at 145 and 147 Devonshire Road, which is situated on a 74,739-square-foot (sq ft) plot, has 64 units split between a 5-story and a 10-story tower. It is zoned for residential use, with a maximum height restriction of 36 stories and a gross plot ratio of 2.8 permitted. The authorities have confirmed that its development baseline is approximately 171,792 square feet, according to Savills.

The 36-story height restriction will guarantee that the new units have unimpeded views of Ngee Ann City and Orchard Residences. Wealthy overseas purchasers would be very interested in the new property when it goes on the market in two years, according to Jeremy Lake, managing director of investment sales and capital markets at Savills.

The Beaumont is located in the upscale District 9 district across from TripleOne Somerset and about two minutes’ walk from Somerset MRT. The Singapore Botanic Gardens, upscale clubs like Tanglin Club and The American Club, and hospitals like Mount Elizabeth Hospital, Camden Medical, and Paragon Medical are all nearby. Among the surrounding educational facilities are Chatsworth International School, ISS International School, and River Valley Primary School.

The Tender deadline is September 20 at 3 p.m.

Last December, just before the government implemented property limitations to slow the market, The Beaumont was placed up for sale. That suggested price converted to S$2,496 psf ppr at S$478 million. The pricing on a psf ppr basis came out to S$2,410 per square foot after accounting for the balconies’ 7% extra gross floor area (GFA). The development entered a 10-week private treaty period after that tender’s close on January 20; however, no offer was made at this time, and the period has already passed.

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Source:
https://www.businesstimes.com.sg/real-estate/orchard-condo-the-beaumont-relaunched-for-sale-with-lower-s468m-guide-price


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