Press Release
|May 14,2025Propnex to Launch the Tender for the Sale Of Two Freehold Terrace Houses in Devonshire Road for a Guide Price of $14 Million
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14 May 2025, Singapore - PropNex Realty, the largest real estate agency in Singapore has today announced that it will launch the tender for the sale of two prime freehold terrace houses at 137 and 139 Devonshire Road ("the property") for a guide price of $14 million on 15 May 2025. The guide price works out to $1,629 psf per plot ratio based on the potential gross floor area (GFA) that can be offered on the combined site following redevelopment.
Collectively, the two plots in District 9 have a combined land area of around 285.2 sq m (about 3,070 sq ft). They are zoned for residential use and have a plot ratio of 2.8 under the 2019 Master Plan. Situated within walking distance to the renowned Orchard Road, the site offers strong redevelopment potential. Subject to approval from the relevant authorities, the property may be transformed into a six-storey serviced apartment development. Additionally, the future owner may be eligible to acquire the adjacent 141 Devonshire Road (127.4 sq m of state land), potentially expanding the development footprint.
Tracy Goh, Head of Capital Markets at PropNex, said, "We expect strong interest for the property from family offices and investors seeking stable, recurring income and long-term value. The freehold status and strategic location of the two terrace houses make them ideal for legacy planning. Meanwhile, the site enjoys high visibility with consistent vehicular traffic along Devonshire Road and it is surrounded by a vibrant mix of eateries and commercial offerings in Orchard Road - making the property particularly appealing for a serviced apartment development. This is a rare opportunity for investors as freehold landed residential properties in Devonshire Road tend to be tightly-held."
The property enjoys good connectivity, being minutes' walk to the Somerset MRT station on the North-South Line. Apart from the extensive retail offerings in Orchard Road, the property is also near a variety of F&B options and a 24-hour supermarket in Killiney Road.
The two terrace houses must be purchased collectively. The tender closes on 5 June 2025 at 3 pm.
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