Gilstead Court launched for sale with reserve price of S$198 million

SINGAPORE, 31 August 2026 – JLL, the sole marketing agent, has launched Gilstead Court for sale by tender, offering a rare freehold collective sale opportunity in Singapore's coveted District 11. The 7,012.2 square metre (sqm) site is located at Gilstead Road and has achieved more than 80 percent owner consent representing both share value and total floor area within a short period of six months. The reserve price is set at S$198 million.

Built around 1978, the development comprises 48 apartments across three four-storey blocks with 24 units measuring 129 sqm and 24 units measuring 136 sqm. Under the 2025 Master Plan, the freehold site is zoned residential with a gross plot ratio of 1.4.

The site has potential to accommodate a five-storey boutique development of up to 98 apartments of 100 sqm each, subject to Urban Redevelopment Authority (URA) approval. At the reserve price of S$198 million, the site reflects a land rate of approximately S$1,874 per square foot per plot ratio (psf/pr). Factoring in the seven percent bonus balcony plot ratio, the effective land rate translates to S$1,751 psf/pr.

"Gilstead Court offers developers a rare opportunity in District 11, a freehold site in a coveted enclave and in close proximity to three renowned schools within one kilometre. We've seen robust interest in recent Government Land Sales in the vicinity, and just down the road, 32 Gilstead was sold out, signalling strong demand that we expect a new development at Gilstead Court to replicate," said Nicholas Ng, Head of Land & Collective Sales at JLL.

"With a high development baseline, no land betterment charge is payable even with the additional bonus balcony gross floor area. This insulates the project from half-yearly land betterment charge rate revisions, with the next adjustment expected on 1 September 2026. For developers seeking a boutique site in a prime location, Gilstead Court offers an excellent investment opportunity with competitive pricing and strong fundamentals," Ng added.

Located in the Newton/Novena district, Gilstead Court sits within an established private residential enclave popular with locals and expatriates. The site is a short walk from Novena MRT Station, providing convenient access to the North-South Line. By MRT, the site is one stop from Newton interchange, two stops from Orchard, three stops from Bishan and four stops from Dhoby Ghaut. By car, Raffles Place and the Central Business District are approximately 12 minutes away.

Prestigious schools within one kilometre include St Joseph's Institution (Junior), Anglo-Chinese School (Junior) and Anglo-Chinese School (Primary). Additional primary schools within one to two kilometres include CHIJ Primary (Toa Payoh), Singapore Chinese Girls' Primary School, St Margaret's School (Primary), Hong Wen School and Farrer Park Primary School.

The site benefits from proximity to Health City Novena, a world-class medical hub, as well as established shopping amenities including United Square, Goldhill Shopping Centre, Velocity@Novena Square, Square 2 and Royal Square. The renowned Newton Food Centre is also easily accessible.

The tender for Gilstead Court closes on Tuesday, 13 October 2026 at 3:00 p.m.