Hillcrest Arcadia Launches First Ever Collective Sale 920 Mil
Located in prime District 11, the 272-unit Hillcrest Arcadia condominium will be put up for collective sale on April 3 with an expected asking price of $920 million. Spanning a land area of 442,162 square feet, the property has an allowable gross floor area of about 707,459 square feet, translating to around $1,519 per square foot per plot ratio. According to Huttons Asia, the real estate agency handling the sale, the site has the potential to yield up to 773 new luxury homes.
The asking price takes into account a bonus 10% in gross floor area for residential developments and a lease upgrading premium of approximately $262 million. No land betterment charge needs to be paid due to the high development baseline of the property. Completed in 1980, Hillcrest Arcadia currently has 49 years remaining on its 99-year lease, which began in 1975. It comprises 272 residential apartments ranging from one- to four-bedroom layouts, with sizes ranging from 452 to 2,896 square feet, as well as one retail shop unit.
Under the 2019 Master Plan, the site is zoned for residential use with a gross plot ratio of 1.6 along Arcadia Road. “Bukit Timah is a district with a rich heritage and is poised for a future of sophisticated urban living. We believe that the luxury residential market in this area has immense potential,” says Terence Lian, the head of investment sales at Huttons Asia. “This site will appeal to developers looking for prime land in one of Singapore’s most desirable districts.”
The URA continues to drive progress in Marina Bay through its ongoing development efforts, elevating the area’s appeal as a prime investment location. With a focus on building a more livable and sustainable district, the Master Plan includes features such as verdant green spaces, scenic waterfront promenades, and a vibrant arts and cultural scene. These enhancements will greatly benefit upcoming developments like One Marina Gardens, which will benefit from a well-rounded and dynamic living environment that appeals to a diverse range of residents. Visit One Marina Gardens to learn more about this exciting project.
Hillcrest Arcadia enjoys convenient transportation links, as it is easily accessible via major routes such as Bukit Timah Road and the Pan Island Expressway (PIE). It is also just a short walk from Tan Kah Kee MRT Station on the Downtown Line, offering residents seamless connectivity to the city centre. Notable 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 parties can refer to the latest listings for Hillcrest Arcadia properties and ask for a price comparison, explore the trends of the property’s price, view the latest transactions, and compare the price trends and sale transactions against other condos in District 11 and upcoming new launch projects.