SINGAPORE, Nov 20 — The lease for the land occupied by Raffles Town Club will not be renewed when it expires on Oct 17, 2026, the authorities said today.
In a joint statement, the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) said that the land located at 1 Plymouth Avenue and near Stevens MRT Interchange is slated for future residential development.
“(The redevelopment) will support future housing demand and enhance the residential character of the precinct, and enable future residents to benefit from the transport infrastructure and connectivity to the city and around the island,” said the authorities.
It is in line with the focus of redeveloping brownfield sites as much as possible to meet future demand for land, including housing, the agencies added. Brownfield sites refer to land parcels that were previously developed.
The Ministry of National Development said in January that about half of the sites used for public housing developments of the past 10 years were greenfield — or land parcels that were not previously developed.
“Annually, there were about 10 to 20 greenfield sites that yielded approximately 5,900 to 14,900 flats. For brownfield sites, there were about five to 20 sites that yielded approximately 2,900 to 13,100 flats,” the ministry added in a written response to a parliamentary question on Jan 10.
Raffles Town Club has 14,000 active members and opened its doors officially in March 2000, according to its website.
Today, the authorities said that agencies will engage Raffles Town Club on the availability of state properties through open tender, if the club wishes to continue operations after the expiry of its current lease.
Alternatively, the club can also explore other options from the open market.
Real estate experts said that the site is located in a prime location and is likely to be sold for private home development.
Eugene Lim, key executive officer of ERA Singapore, noted that the town club’s surrounding areas are residential plots that are predominantly landed or with a gross plot ratio of 1.4, which essentially means that a development there can go up to five storeys.
However, the site is also “advantageously located” at the intersection of Whitley Road and Dunearn Road, he added.
“There is a possibility of a higher plot ratio being allowed on the site, like 1.6 or 2.1, such that a taller development may be built there to serve as a landmark for the intersection,” he said.
A site with a plot ratio of 2.1 allows buildings of up to 24 storeys.
Meanwhile, senior director for data analytics at Huttons Asia Lee Tze Teck said that the roughly 132,639sq feet site may be designated a plot ratio of 1.4, given the low rise developments in its surrounding.
“It can potentially be developed into a prime luxury project with 160 to 190 units with an average size of 85 to 100 sqm,” he said.
The top bid for such a site could be more than S$1,500 per square foot per plot ratio if launched today, he added. — TODAY