Dublin Lodge, a freehold landed development site located at the fringe of the Orchard Road shopping belt is up for sale. Exclusive agent Cushman & Wakefield have said that they have obtained 100% consensus for the potential sale at a price of $65 million.
Estimated to be around 35-years old, Dublin Lodge is located on a private cul-de-sac on Dublin Road and has a site area of 2,510.2 sq m (27,020 sq ft approximately). There are currently 8 strata terraces with floor areas ranging from 238 sq m to 240 sq m (2,562 sq ft to 2,583 sq ft approximately) at the site. Under the Master Plan 2019, it is zoned “Residential” and is within the 2-storey mixed landed area. Subject to relevant authorities’ approval, it can be redeveloped into a large single detached house or be subdivided into 10 individual terraces. The vicinity comprises mostly exclusive low-rise housing and quaint shophouses with an eclectic array of lifestyle shops and F&B offerings. The development is under a 5-minute walk to Somerset MRT Station and a 10-minute drive to the Central Business District.
Ms Christina Sim, Director at Cushman & Wakefield’s Capital Markets says “This is a compelling opportunity to acquire a charming asset as landed housing opportunities at the fringe of Orchard Road are few and far between. Its prime central location, freehold tenure and most of all, its coveted address will be highly sought after. Developers have the creative option of building a strata-landed housing development or build 10 terrace houses of distinction. Alternatively, it also presents an ideal opportunity for a Developer/Investor to land-bank and hold the property for future capital appreciation. Since all 8 owners have consented to the sale, an application to the Strata Titles Board for a sale order will not be required.”
The Expression of Interest exercise for Dublin Lodge will close on 4th January 2022 (Tuesday) at 3.00pm.