Freehold residential building listed on the market for $9.2 mil at Wilkie Road

A freehold residential property located at the 62 Wilkie Road in District 9’s prime area will be offered for sale at $9.2 million on August 2. The property will be sold through an auction for collective sales and is being advertised through PropNex Realty.

According to Terra Hill ebrochure land rate of $1,355 psf ppr and $1,318 psf ppr, including a 7% bonus balcony area in the GFA.

The building has six floors and comprises three duplex apartments with the strata area total of 5,597 square feet. The estimated price is $1,644 per sq ft of strata area. It is a property is completed as of 2003. It is located on a 2,542 square foot site which is designed for residential use with an average plot ratio of 2.1 in accordance with the most current Master Plan.

Because of its central location and close proximity in the Bras Basah, and Bencoolen regions The property is located near the six MRT stations, including Dhoby Ghaut, Bencoolen, Little India, Rochor, Bras Basah and Bugis. It is also near Bencoolen and the Orchard Road shopping belt.

“This group sale offers investors with the chance to acquire a piece of land and an unassuming building comprising three apartments situated in the sought-after District 9 for an affordable price,” says Tracy Goh director of collective and investment sale in PropNex Realty.

She also says it’s perfect for families with multiple generations that would like to live in one place. Investors will find the property appealing for its appreciation in value in addition to rental earnings.

The collective sale tender is due to close on 7 September.

By using EdgeProp’s Landlens software, in addition to showing nearby property deals, the tool shows the most recent enbloc transactions within the area, like Sophia Villa and Fairhaven in November 2020. These developments were sold at $2,387 psf per ppr, and $1,724 psf per psf respectively.