The Dairy Farm Road plot's most attractive attributes are its proximity to the Bukit Timah Nature Reserve and partial unblocked views over the landed residential plots. The site's proximity to Hillview MRT station and major expressways as well as strong rental demand from expatriates in the locality are reasons why the site may prove to be popular with developers.
The last time a residential GLS site was sold in the area was in 2012, to a consortium led by TA Corporation for S$616 per square foot per plot ratio (psf ppr) and developed into The Skywoods. Nearby, there is an older condo development - The Dairy Farm which is now in the process of gathering the requisite consensus for its collective sale with an asking price of over S$1.68 billion, or a land rate of at least S$1,100 psf ppr inclusive of the development charge.
The current record GLS land rate (S$805 psf ppr) in the Bukit Panjang/Hillview/Dairy Farm/Bukit Batok locality is now held by the land parcel where Hillion Residences and Hillion Mall stand. Units in Hillion Residences have commanded average prices of S$1,496 psf this year.
The development at Sims Drive has a site area of 16,225.3 sq m, with a lease period of 99 years, and a permissible GFA of 48,676 sq m.
Beside this plot of land is a recently launched new condo development called The Tapestry, developed by another very reputable locally listed developer - City Developments Limited or CDL. This project is a private condo project and features good sized layouts in their interior floorplan designs that appeal to both home owners and investors alike. You may click on the project image below to visit The Tapestry website to find out more.