HomeLand SalesSophia Road Residential Site Sold En Bloc Below Guide Price
132 Sophia Road En Bloc

Sophia Road Residential Site Sold En Bloc Below Guide Price

Sin Thai Hin buys Sophia Road residential land for S$33.59 million

A residential land on a 103-year leasehold tenure at 132 Sophia Road in Prime District 9 was sold for S$33.59 million. The sale price was a discount of 4% off the guide price and reflects a land rate of about S$1,172 per square foot (psf) inclusive of a nominal land betterment charge, said exclusive marketing agent, Knight Frank Singapore. 

The purchaser is a boutique property developer and investor, Sin Thai Hin Development, who intends to redevelop the land into a “new concept boutique development that will be the crown jewel atop Mount Sophia alongside the popular Orchard shopping belt”.

The site is located beside St Margaret’s School (Primary), which is undergoing an upgrade and it is approximately 400m away from Dhoby Ghaut MRT Interchange Station.

Chia Mein Mein, head of capital markets for land and collective sale at Knight Frank, believes the location of the site would make it appealing to buyers looking for properties in the Core Central Region. “Home prices in the mass market locations of Singapore have reached new benchmarks, narrowing the gap with home prices in the prime locations. This presents value opportunities and an as-yet untapped potential for capital appreciation for homes in the prime central locations,” she observes.

The latest new launch in the Mount Sophia enclave is Orchard Sophia slated for TOP in 1Q2027.