ADJOINING freehold residential sites on 62 and 64 Wilkie Rd will be put up for collective sale with a guide price of S$19.5 million on Tuesday (Nov 1), said marketing agent Propnex.

The sites comprises of three and five residential units respectively with a combine site area of 5,849 sq ft. Zoned “residential” has a gross plot ratio of 2.1 under the Urban Redevelopment Authority’s Master Plan 2019.

This translates to a price of S$1,485 psf per plot ratio, inclusive of a 7 per cent bonus balcony space and land betterment charge.

With a gross floor area of 12,282 sq ft, the successful buyer of the site will be able to redevelop the plot into a residential project comprising 26 units within an eight-storey building, said Propnex in a release.

The estimated project size is based on the recently announced guidelines on dwelling units within the central area, it added.

Situated in District 9, the properties are within walking distance to several MRT stations such Dhoby Ghaut, Bencoolen, Little India, Rochor, Bras Basah and Bugis MRT stations.

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Tracy Goh, head of investment and collective sales at PropNex, said she expects keen interest from local developers owing to its affordable pricing and attractive location.

“Supply of freehold land in the city is limited and this tender presents a rare opportunity for developers to acquire a prime freehold residential site in the heart of Singapore’s vibrant arts and cultural district in the city,” said Goh.

Tender exercise for the sale of the properties will close on Nov 22 at 2 pm.