SINGAPORE: Balestier Regency, a 72-unit freehold condominium located off Balestier Road, has been put up for collective sale in its fourth attempt, with a guide price of S$255 million.
The latest tender, launched on Monday (May 4), reflects an estimated land rate of about S$1,473 per square foot per plot ratio (psf ppr), inclusive of a land betterment charge of S$381,181. The tender will close on July 9 at 3 p.m.
The development, a 10-storey residential block at 4 Jalan Ampas, previously failed in its 2022 en bloc bid, when it was priced at S$218 million. That attempt did not proceed after the required 80% owner consensus was not achieved.
According to marketing agent SRI Capital Market, the higher asking price takes into account rising land values as well as the increasing cost for owners to secure replacement homes. Under the current exercise, owners of the condominium’s three-bedroom units, which range in size from 1,270 sq ft to 1,496 sq ft, are expected to receive between S$3.28 million and S$3.5 million if the sale is successful.
The site occupies a land area of 61,931 sq ft and is zoned for residential use under the Urban Redevelopment Authority’s Master Plan 2025, with a gross plot ratio of 2.8. This allows for a maximum gross floor area of 173,407 sq ft. Based on prevailing planning guidelines and subject to approval, the site could potentially be redeveloped into a new project with up to 161 residential units.
Balestier Regency is situated near amenities such as Shaw Plaza, Zhongshan Mall, and Whampoa Market and Food Centre and is a short drive from the Novena area, including HealthCity Novena and Velocity@Novena Square.
Its relaunch comes amid a renewed push by ageing residential developments to pursue collective sales. This follows the recent S$880 million sale of Loyang Valley to a SingHaiyi Group-led consortium on April 17 — the largest residential en bloc transaction since Thomson View was sold for S$810 million in 2025.
Notably, the Loyang Valley deal was struck at a price about S$100 million lower than its previous 2022 attempt, despite the project having 55 years remaining on its 99-year lease.
Elsewhere, High Point, a freehold condominium in the Mount Elizabeth area, entered its fifth collective sale bid on April 22 with a guide price of S$580 million. The move comes five years after a proposed sale to Shun Tak Holdings for S$556.7 million fell through in December 2021, shortly after new property cooling measures — including higher additional buyer’s stamp duty rates — were introduced.
The High Point guide price translates to about S$2,641 psf ppr, inclusive of a 7% bonus gross floor area.
