Gilstead Court’s $198M Collective Sale Opportunity
In an exciting development for real estate investors, JLL has introduced the Gilstead Court property for collective sale through a tender process. Positioned in Singapore’s desirable District 11, this freehold site presents a rare investment opportunity with a reserve price set at $198 million.
The property spans 7,012.2 square metres and consists of three four-storey blocks that house a total of 48 residential units. Each block features two types of apartments: half of them measuring 129 sq.m. and the other half at 136 sq.m. Built in 1978, Gilstead Court has garnered significant interest, achieving over 80% owner consent within just six months.
This robust level of owner agreement showcases both the share value and total floor area approvals needed for the collective sale process. As urban development continues to evolve, the potential buyers will find it encouraging that this site is zoned as residential under the upcoming 2025 Master Plan.
Potential Development Opportunities
The zoning classification allows for exciting possibilities for future development on this prime piece of land. Under the current regulations from the Urban Redevelopment Authority (URA), there is potential to develop a boutique residential project that could include up to 98 apartments, each approximately 100 sq.m. This opens doors for developers looking to create modern living spaces that cater to current market demands.
Tender Details
The tender process is scheduled to close on October 13 at precisely 3:00 p.m., and interested parties are encouraged to act swiftly given the strategic location and potential developments associated with Gilstead Court. This timing aligns well with ongoing trends in real estate where collective sales have become increasingly popular among developers seeking new projects.
Location Advantages
Sitting within District 11 enhances its appeal significantly. Known for its lush greenery and proximity to various amenities, including reputable schools, shopping areas, and dining options, Gilstead Court offers an attractive lifestyle choice for future residents or investors looking into rental opportunities.
With such compelling characteristics combined with a growing interest in urban residential developments, investing in Gilstead Court could prove beneficial for those keen on capitalizing on Singapore’s real estate market dynamics.
Source: Original Article