When Raffles Town Club (RTC)’s lease ends in October 2026, the prime piece of land in The Continuum that it occupies will be sold so that homes can be built there.
Developers are likely to be interested in The Continuum Showflat, which could cause the club’s membership price to drop even more.
When the club first opened in 2000, RTC memberships cost S$28,000. On the resale market, they are now going for S$7,000 to S$8,000.
The RTC site at 1 Plymouth Avenue has a lease that ends on October 17, 2026.
Tricia Song, head of research for CBRE in Singapore and Southeast Asia, said that the land would be one of the few 99-year leasehold residential sites to be offered on Bukit Timah Road. It is also very close to an MRT station, famous schools, and the Botanic Gardens, so it is likely to be very popular.
Singapore Chinese Girls’ School, Anglo-Chinese School, Nanyang Primary School, and St. Joseph’s Institution are all close by schools.
According to Cushman & Wakefield’s Singapore and Southeast Asia director of research Wong Xian Yang, based on a plot ratio of 1.4 and a minimum unit size of 915 square feet, about 200 residential units may be developed on the 12,318 square meter property.
Lee Sze Teck, senior director of data analytics at Huttons, predicts that the future construction will be a high-end condominium complex.
The gross plot ratio permitted would determine the total number of units. The gross plot ratio of the property is now under review.
Eugene Lim, a top official at ERA, has hinted that the site might support a layout ratio of up to 2.1.
The area’s “residential character” will be “enhanced” via redevelopment, which will help meet the growing demand for homes in the area. They also noted that the future population will reap the benefits of the island’s transit infrastructure and access to the metropolis and beyond.
Raffles Town Club announced in a statement to The Business Times that its management would keep serving members until the lease ends in October 2026.
The government had already declared intentions to enhance housing supply in crucial regions like Pearl’s Hill and Bukit Timah’s Turf City, as pointed out by Mohan Sandrasegeran, head of research and data analytics at SRI.
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