Hillcrest Arcadia, a 99-year leasehold condominium in Bukit Timah, is up for collective sale with a guide price of S$920 million. This en bloc presents a rare redevelopment opportunity for a sprawling 4-hectare site in Singapore’s prime District 11.

Prime Location and Site Details

The expansive 442,162 square-foot site, located along Arcadia Road near Watten Estate, currently houses 272 residential units and one retail unit. Zoned for residential use with a gross plot ratio of 1.6, the site could accommodate up to 773 new homes, according to marketing estate agency Huttons. Importantly, no land betterment charge is required due to its existing approved use and intensity.

Pricing and Financial Considerations

At the guide price of S$920 million, Hillcrest Arcadia is being marketed at approximately S$1,519 per square foot per plot ratio (psf ppr). This calculation includes a 10 per cent bonus gross floor area and a premium of about S$262 million to refresh the lease to a new 99-year term. The current lease, dating back to 1975, has about 50 years remaining.

If the collective sale succeeds, owners stand to receive payouts ranging from S$945,000 to over S$5.7 million. Notably, recent URA caveat transactions at the development include a 699.7 sq ft unit sold for S$850,000 (S$1,215 psf) in 2024.

Market Sentiment and Timing

This is Hillcrest Arcadia’s second attempt at a collective sale, following an unsuccessful bid in 2018 when the owners failed to secure the required 80 per cent consensus. 

Competitive Landscape and Recent Sale Transactions

The Bukit Timah area remains a stronghold for luxury residential developments. In 2021, UOL Group acquired the nearby Watten Estate Condominium, a site about half the size of Hillcrest Arcadia, for S$550.8 million. The resulting 180-unit luxury project, Watten House, launched in November 2023 and saw strong demand, selling 102 units at an average price of S$3,230 psf.

Tender Details

The collective sale tender for Hillcrest Arcadia will officially launch on April 3, 2025, and will close on May 22, 2025. Given its prime location, redevelopment potential, and favorable market conditions, the site is expected to attract keen interest from major developers looking to make their mark in Singapore’s luxury residential segment.

For investors and developers eyeing Bukit Timah’s prized real estate, this sale represents a rare chance to secure a substantial residential plot in one of Singapore’s most coveted districts.