Completed just slightly more than a decade ago, the Beaufort on Nassim condominium is already launching for collective sale by tender with a reserve price of $222.68 million.
Collective sale a first in 13 years for Nassim Road properties
The collective sale of Beaufort on Nassim will be the first such en bloc sale on Nassim Road in 13 years. The last sale was in 2006 for Nassim Park Residences.
This prime district 10 site offers developers a rare chance to secure a choice piece of land in an area where they are hard to come by. The Beaufort on Nassim site is zoned for residential use and measures 45,344 sq ft or 4,212.6 sq m with a gross plot ratio of 1.4. It currently houses 30 units including 2- and 3-bedroom apartments and penthouses with sizes ranging from 115 sq m to 343 sq m.
Price comparison with the recent sale of a freehold site nearby which measured 66,452 sq ft showed the sale of 14/14A Nassim Road via private treaty at $218 million.
The Beaufort on Nassim site may potentially be redeveloped into a luxury condominium of up to 4 storeys with a gross floor area of 5,890.82 sq m.
The site near orchard shopping belt and clear views
The site is a prime one indeed with its vicinity to the Orchard Road shopping belt and being just a short drive away from the Central Business District (CBD). Analysts are positive that land value here will rise as there has been increased activity in the luxury home segment with foreign buyers picking up units here.
There have also been multiple Good Class Bungalows (GCB) transactions at benchmark prices in the district.
Amenities nearby include the Botanic Gardens, Dempsey Hill eateries and many international schools.