Braddell View en bloc signing hits 80% consent

Reserve price for the collective sale is S$2.08 billion, which works out to S$1,214 per square foot per plot ratio

Thu, Feb 07, 2019 - 5:50 AM


Braddell View's land area is 1.14 million sq ft, making it the largest private residential site in Singapore. It was the last HUDC estate to be privatised.


SIGNING of the collective sale agreement for Braddell View, the biggest of Singapore's 18 former HUDC estates, has reached the 80 per cent consensus mark.

Colliers International, the marketing agent for the collective sale, confirmed this when contacted by The Business Times on Wednesday.

"However, this is still subject to legal verification and the five-day cooling-off period," said the property consulting group's managing director Tang Wei Leng.

"Colliers will provide further update on the signing status once legal verification has been completed and after the expiry of the cooling-off period. We will be making further announcement at a later stage when we have more to share," she added.

Braddell View's land area is 1.14 million sq ft, making it the largest private residential site in Singapore.

The reserve price for the collective sale is S$2.08 billion, which works out to S$1,214 per square foot per plot ratio, including estimated differential premium and lease upgrading premium of S$831 million.

The site has 102.25 years leasehold tenure from Feb 1, 1978, which translates to a balance lease term of about 61 years.

Braddell View has 918 residential units and two commercial units. The residential units comprise 824 apartments, 78 maisonettes and 16 penthouses.

Under the Urban Redevelopment Authority's Master Plan 2014, the site is zoned for residential use and has 2.1 plot ratio (ratio of maximum gross floor area to land area).

The development, which was completed around 1981, was the last HUDC estate to be privatised. Its privatisation in March 2017 marked the closure of the government's privatisation programme for HUDC estates.