Trendale Tower back on the market with reduced S$168m reserve price

TRENDALE Tower, a freehold residential site in the prime Cairnhill enclave, has been put up for sale yet again at a reserve price of S$168 million via public tender.

The site was last up for sale in August 2022 at a guide price of S$178 million, but bidding closed in mid-September with no takers. A May 2018 attempt to sell the development – then at a reserve price of some S$163.5 million – did not go through either as there were no buyers.

In bidding terms, a reserve figure usually indicates the sellers’ minimum acceptable price, whereas a guide price is indicative of the sale value which the owner hopes to achieve.

The latest S$168 million reserve price tag for Trendale Tower works out to S$2,257 per plot ratio, after factoring in a 7 per cent bonus gross floor area (GFA) for balconies.

The development charge payable for the 7 per cent bonus GFA is about S$7.6 million, said exclusive marketing agent Savills on Friday (Dec 16).

Located at 79 Cairnhill Road, the 20-storey development houses 18 apartments of 298 square metres each.

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Trendale Tower has a verified GFA of 72,691 square feet (sq ft) – or equivalent gross plot ratio of about 3.35 –and sits on a land area of approximately 21,708 sq ft.

A pre-application feasibility study is not required by the Land Transport Authority for the site redevelopment of up to 103 apartments, Savills added.

Within 1 kilometre of the property are schools like EtonHouse International Pre-School and Anglo-Chinese School (Primary), along with Newton MRT station.

“A developer who buys this site will have the opportunity to curate a unique luxury development and be able to launch the project in 12-15 months time when there may virtually be no competition in that segment of the market,” said Galven Tan, deputy managing director of investment sales and capital markets at Savills.

The ongoing tender exercise for Trendale Tower will close on Jan 12, 2023, at 3 pm.