The Beaumont, a freehold residential development opposite TripleOne Somerset, is up for public tender from 10 December onwards, according to their exclusive marketing agent Savills.
The development comprises 64 units spread across a five-storey tower and a 10-storey tower. It is located at the end of an exclusive cul-de-sac at 145 and 147 Devonshire Road in District 9.
Situated in the heart of Orchard, the site is accessible by public transport as well. Somerset MRT is just a six-minute walk away. Other notable amenities in the vicinity include 313@somerset, Orchard Central, Paragon, Ngee Ann City, Mount Elizabeth Hospital and Singapore Botanic Gardens.
Reputable schools nearby include River Valley Primary within 1km of the site, and Anglo-Chinese School (Junior) within 2km.
“The Beaumont is a rare elevated site nestled among the lush matured greenery. In our recent engagement with developers, the demand for sites such as The Beaumont with unique attributes that facilitate the design of an ultra luxurious development is strong as developers have gradually sold down on such inventory,” shared Galven Tan, Deputy Managing Director, Investment Sales and Capital Markets at Savills Singapore.
The Beaumont’s collective sale launch comes after the public tender of High Point, located at Mount Elizabeth. Its tender ended yesterday (8 December).
According to the press release, the 74,739 sq ft site of The Beaumont is zoned “Residential” under the 2019 Master Plan, with an allowable gross plot ratio of 2.8. The new development can be built up to 36 storeys, with up to 277 units.
With a guide price of S$478 million and a development charge of approximately S$44.36 million, this translates to S$2,496 per plot ratio. After factoring in the 7% bonus GFA for balconies and an additional development charge of S$17.3 million, the land price works out to be S$2,410 per plot ratio.
“During this pandemic, Singapore has shown resilience and it remains a gateway to the Southeast Asian economy. Singapore continues to attract talents and foreign direct investments due to its economic stability. High-end luxury residential projects have benefitted with the inflow of such capital and we continue to see growing interest from local high-net-worth individuals who are purchasing such properties for their own stay,” said Jeremy Lake, Managing Director, Investment Sales and Capital Markets at Savills Singapore.
The tender for The Beaumont closes on Thursday 20 January at 3pm.
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