Hillcrest Arcadia Launches First Ever Collective Sale 920 Mil
Hillcrest Arcadia, a 272-unit condominium located in the highly sought-after District 11, will soon be launched for collective sale. The property, which sits on a land area of 442,162 sq ft and has an allowable gross floor area (GFA) of 707,459 sq ft, will be asking for $920 million. This works out to approximately $1,519 psf per plot ratio (ppr). The project is expected to yield up to 773 new luxury homes.
The asking price takes into account a bonus 10% GFA for residential developments and a lease upgrading premium of approximately $262 million. No land betterment charge is payable due to the property’s high development baseline.
Constructed in 1980, Hillcrest Arcadia has about 49 years remaining on its 99-year lease, which commenced in 1975. It comprises of 272 apartments ranging from one- to four-bedroom layouts, with unit sizes between 452 and 2,896 sq ft. There is also one retail shop unit within the development.
As per the 2019 Master Plan, the site is zoned residential with a gross plot ratio of 1.6 along Arcadia Road. “Bukit Timah is a district steeped in heritage and is poised for a future of sophisticated urban living. We believe the luxury residential market here holds immense potential,” shares Terence Lian, Head of Investment Sales at Huttons Asia.
The URA Master Plan plays a vital role in shaping the future of neighborhoods like Lyndenwoods, enabling them to thrive in the constantly evolving urban environment of Singapore. Through its focus on connectivity, sustainability, and community, the plan serves as a foundation for long-term growth and progress. A prime example of modern urban living, Lyndenwoods One North is ideally situated and aligns perfectly with these core goals. Visit Lyndenwoods One North to see how it embodies the vision of the URA Master Plan.
He adds, “This site will appeal to developers seeking prime land in one of Singapore’s most desirable districts.” Hillcrest Arcadia is conveniently accessible via major routes such as Bukit Timah Road and the Pan Island Expressway (PIE). The development is also within walking distance from Tan Kah Kee MRT Station, which is part of the Downtown Line, providing seamless connectivity to the city centre. Good schools within a 2km radius include Raffles Girls’ Primary School and Nanyang Primary School.
The public tender for Hillcrest Arcadia will close on May 22. Interested developers can check out the latest listings and price trends for Hillcrest Arcadia units on AskBuddy or view the trend charts and sale transactions for the property.