Oxley Garden seeking at least S$200m, on heels of adjacent 5 Oxley Rise tender

OXLEY Garden, sitting on a 58,207 square feet freehold plot in prime district 9, will soon be put up for collective sale on the heels of the sale of 5 Oxley Rise, a much bigger parcel up the road.

Built in 1986, the four-storey Oxley Garden is being marketed with a minimum price of S$200 million. A tender is expected to be launched soon.

The plot now houses 46 apartments ranging from 1,647 sq ft to 1,776 sq ft in size. The site can be rebuilt into a five-storey condominium with gross floor area (GFA) of 85,246 sq ft, based on its existing gross plot ratio (GPR) of 1.4645. According to marketing agent JLL Singapore, GFA could be increased to 92,065 sq ft with a GPR of 1.5817, including 8 per cent bonus GFA.

An access road, owned by the owners of nearby 5 Oxley Rise, splits the Oxley Garden site into two.

5 Oxley Rise, an iconic mansion located on a huge freehold plot totalling 151,205 sq ft, has just been put on the market and is expected to bag offers of more than S$300 million. The land is zoned for landed housing and may be gazetted as a Good Class Bungalow area if the existing house is conserved.

Tan Hong Boon, executive director of capital markets at JLL Singapore, said that the sale of both sites would enhance their value proposition and be mutually beneficial to both sites.

“A developer who buys both sites – 5 Oxley Rise and Oxley Garden - may reconfigure and explore a comprehensive redevelopment for better site efficiency in design and layout, as well as better visibility in access,” he said.

A factsheet on the site for sale lists the Oxley Garden plot as "not subject to minimum average size control", and as "within Special Control Area 1". According to the Urban Redevelopment Authority website, special control areas "may be subject to security screening requirements", which the agency will confirm on submission of development plans.

Situated within the central area, the site is about 600 metres from Somerset MRT Station, about 660 metres from Dhoby Ghaut MRT interchange and about 680 metres from Fort Canning MRT Station. It is also within 1 kilometre of St. Margaret’s Primary School and River Valley Primary School.