Balestier Regency relaunches collective sale at $255 million

Balestier Regency is back on the market with a $255 million guide price for its 72-unit freehold site, unchanged from its May launch. The tender for the District 12 property will close on November 12.

Development potential under URA Master Plan 2025

The 61,931 sq ft site is zoned for residential use under the Urban Redevelopment Authority's Master Plan 2025. It carries a gross plot ratio of 2.8. This translates to a maximum permissible gross floor area of approximately 173,407 sq ft. The site can potentially be redeveloped into a new project with up to 161 apartments.

Land rate and financial structure

The guide price of $255 million implies a land rate of about $1,473 per square foot per plot ratio. This figure includes an estimated land betterment charge of $381,181, based on September 2026 rates. After factoring in this charge and bonus gross floor area for balconies, the effective land rate adjusts to about $1,437 psf ppr, according to the exclusive marketing agent.

Marketing and transaction details

SRI Capital Market is handling the sale. Low Choon Sin is the firm's managing partner. The tender will close at 3pm on November 12. This is the property's fifth en bloc attempt overall. Owners first tried in 2013 but failed to secure the required 80% consent. A launch at $218 million in 2018 found no buyer. A third attempt in 2022 again fell short of the consent threshold.

Balestier Regency is a 10-storey apartment block at 4 Jalan Ampas, completed in 1990. Its units range from 1,270 to 1,496 sq ft. The location is off Balestier Road, near Shaw Plaza and Zhongshan Mall. It is also close to the Novena precinct, which includes HealthCity Novena and Velocity@Novena Square.

Context from a parallel tender

A separate freehold estate is also launching for sale on the same day. The property at 8 Lornie Road in District 11 is on a 51,700 sq ft site with a guide price of $83 million. That price translates to about $1,605 per sq ft based on land area. The sellers are the family of the late Chng Gim Huat, founder of CGH Group. The same family sold the Orchid Hotel in Tanjong Pagar for $273 million earlier this year.

Knight Frank Singapore is the exclusive agent for the Lornie Road property. Melvin Chay, the firm's interim head of capital markets, commented on market dynamics. "While developers are focused on development feasibility and end-buyer demand, private buyers tend to place greater emphasis on location, privacy and long-term ownership," Chay said.

In a related listing, a freehold residential site on Joo Chiat Terrace is also up for sale at $17.5 million. The tender for Balestier Regency will close at 3pm on Nov 12, determining whether the third en bloc attempt in two years finally succeeds.