Freehold Pasir Panjang property launched for EOI at $70m

The site could be redeveloped into about 63 boutique homes.

A freehold property at 300/300A Pasir Panjang Road has been launched for expression of interest at a guide price of $70m, with the tender closing at 3 p.m. on 15 September, according to JLL.

The 48,774-square-foot District 5 site has served as the Norwegian Seamen's Mission since 1977 and comprises a low-rise residential and community facility with a chapel.

The guide price translates to approximately $1,571 per square foot per plot ratio (psf ppr), inclusive of land betterment charge.

Under the Master Plan 2025, the site is zoned Residential with a gross plot ratio of 1.4. Including the 7% bonus gross floor area, the corresponding land rate is about $1,526 psf ppr inclusive of land betterment charge.

The site's regular shape, extensive depth, elevated terrain, and single ownership could be redeveloped into about 63 boutique residential units.

"The property's positioning alongside the Greater Southern Waterfront will appeal to developers seeking a unique project or high-net-worth individuals looking to build a private legacy compound," said Nicholas Ng, Head of Land and Collective Sales at JLL Singapore.

The site is about a 10-minute walk from Haw Par Villa MRT station on the Circle Line and has access to the Central Business District, Marina Bay, and one-north via West Coast Highway and the Ayer Rajah Expressway.

Nearby amenities include the National University of Singapore, National University Hospital, Science Park I & II, Mapletree Business City, and Fairfield Methodist School (Primary).

The site is also close to West Coast Park, Kent Ridge Park, HortPark, and the Southern Ridges.

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