Raffles Town Club site slated for future residential use after lease expiry in 2026
In its statement, SLA and URA state the redevelopment of the area for residence use will “assist future housing need and increase the residence style of the development”.
Lee Sze Teck, top executive for information analytics at Huttons Asia, feels the plot, that lies throughout a private residence enclave, will certainly be sold for exclusive housing. He forecasts the spot may be ascribed a plot ratio of 1.4 given its neighboring low-rise properties. To that level, it can potentially be developed into a luxury project with 160 to 190 units with a standard unit size ranging from 915 to 1,076 sq ft. If the site started for tender these days, it can attract a winning bid of over $1,500 psf per plot ratio, he estimates.
The lease contract on a plot of land in Bukit Timah presently occupied by Raffles Town Club (RTC) are going to not be resumed the moment it lapses on Oct 17, 2026. In a Nov 20 statement, the Singapore Land Authority (SLA) and URA collectively announced that the area is slated for future residential development.
The site, which measures an approximated 132,639 sq ft, is located at 1 Plymouth Avenue in District 11. It is within strolling span of the Stevens MRT Interchange. RTC will definitely continue its operations at the place until the contract expires, upon which it will certainly be called for to send back the land to the region.
Eugene Lim, major executive officer at ERA Singapore, thinks that the site may be granted a bigger plot ratio provided its site at the section of Whitley Road and Dunearn Road. “There is a possibility of a greater plot ratio being simply permitted on the place, like 1.6 or 2.1, such that a taller property may be constructed there to function as a landmark for the crossway.”
The site lies barely a five-minute drive from the Singapore Botanic Gardens. It is additionally close to schools consisting of Singapore Chinese Girls’ School, Nanyang Primary School and St Joseph’s Institution.