Wilshire Residences @ Farrer Road (The Wilshire)

There is an upcoming new launch condo, Wilshire Residences, formerly The Wilshire on Farrer Road was sold to a joint-venture between Singapore-listed property group, Roxy-Pacific Holdings and the privately held TE2 Development for $98.8 million. The purchase price translates to a land rate of $1,536 psf per plot ratio (ppr). Given its high development baseline, there is no development charge payable. The land rate would be reduced to $1,455 psf ppr after allowing a development charge of $4.1 million for the 10% bonus GFA balcony space, according to Suzie Mok, Savills Singapore senior director of investment sales who brokered the deal.

Wilshire Residences, formerly The Wilshire sits on a freehold site of 39,130 sq ft. Based on the Master Plan 2014, it is zoned for residential use with a plot ratio of 1.6. The site can be redeveloped up to a height limit of 12 storeys with a maximum gross floor area of 64,310 sq ft.

The existing eight-storey building at The Wilshire contains 20 units sized from 2,196 to 5,662 sq ft. Each owner is expected to receive proceeds ranging from $3.76 to $7.46 million from the collective sale.

Project Name	Wilshire Residences
Type	Apartment / Condo
Classification	Apartment
Address	22 Farrer Road
Site Area	39,130sqft
Unit Type	1/2/3/4 bedroom units + Penthouse
Developer	TE2(Tong Eng family office) & Roxy Pacific
Development	RV Altitude, Fyve Derbyshire, Arena Residences, 120 Grange, Goodwood Grand, Three Balmoral, Harbour View Gardens
TOP	2023
Tenure	Freehold
No. Of Units	85