With the recent news in regards to the land located at 2F Gerald Crescent being put on sale, I feel that it will be an interesting case study, not because of the highly publicized matter on breach of trust, but because its large land area will no doubt draw numerous questions in regards to its full rebuild potential and costs.
Rebuilding an older landed property in Singapore takes up a significant cost and it is ill-advised for potential home buyers to purchase a property without understanding the approximate redevelopment costs required to build the home of your dreams.
This case study does not in any way or form a binding contract, and it's only for educational purposes. I advise you to speak to our qualified builders if you are interested in a quotation.
Land Area
31,885 sqft or 2,962 sqm. A land plot size of greater than 400 sqm will be classified as a detached (bungalow) type. That being said, we have to work within some of the guidelines for this specific type, which we will talk about in detail further on.
Development Control Guidelines
As 2F Gerald Crescent is located within the 3-storey mixed landed zoning. This makes it possible for the bungalow to built up to at least 3-storeys with an attic. The attic space can be considered as a usable space.
Road Buffer and Side/Rear Setbacks
Gerald Crescent is a Category 5 Road, this categorization requires that the building setback from boundary will have to be located 7.5 metres away from it.
For both side and rear building setback, it will need to be 2 metres away from the boundary.
Site Coverage
For detached (bungalow) land plots, you will have to observe a maximum of 50% site coverage. Taking into account all the above guidelines and site coverage, the approximate area for site coverage will be around 15,942 sqft. This is the area which is demarcated in green.
Build-Up Area
Calculating the Build-Up Area is tricky as it depends on the existing site coverage of the unit. To calculate the maximum build-up area for the property, various development control and envelope control guidelines mentioned above will have to be observed.
Based on the above findings, the approximate built-up area allowed for 2F Gerald Crescent is around 47,826 sqft!
Expected Cost
The ballpark range for the complete redevelopment of 2F Gerald Crescent will cost in total $13.6-17.8 mil! The cost of your project ultimately depends on many factors such as the complexity of build, and quality of finishes and fittings to house interior.
Exclusions
There are some other details that we have not covered in more detail but necessary such as professional fees, authorities’ plan processing charges, construction financing charges, site inspectorate and other administrative expenses.
In regards to the building itself, costs for construction of a basement level, soil conditions, demolition of an existing structure and interior fittings are excluded as these are sometimes not required and/or handled by other contractors.
Finally, the project cost can vary based on the duration of the project.
Summary
Redevelopment of a plot of this size is very costly and it will take a team of skilled architects, builders and interior designers to build the home of your dreams.
The total build-up area of this landed property will be approximately 47,826 sqft.
Expected cost of the project will be between $13.6-17.8 million.
If you require more information in regards to the total rebuild check out this Guide to Rebuilding Landed Properties for Private Home Owners.
For some of our previous builds that we have done, click here.
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