Delfi Orchard up for collective sale at $438 million guide price

SINGAPORE - Delfi Orchard, a 40-year-old strata-titled building that is majority held by City Developments Ltd , is up for collective sale at a $438 million guide price.Situated at 402 Orchard Road, Delfi Orchard sits on a 20,264 square feet freehold site zoned for commercial use, with height control of up to 20 storeys.

The most recent commercial en bloc deal done in the Orchard area was for freehold commercial complex Ming Arcade, which was sold for $172 million in December 2022. The sale price worked out toS$3,125 psf ppr, marking a record-high land rate in the market.Scotts Square mall was put on the market in January

The group booked a pre-tax gain of $256.3 million after completing the collective sale of Tanglin Shopping Centre, and $75.6 million after Golden Mile Complex’s collective sale, in its 2022 financial year. CDL’s portfolio also includes Orchard Hotel and Claymore Connect in the area, a stake in the St Regis Singapore hotel nearby, as well as stakes in The Singapore Edition hotel and Boulevard 88 condo along Cuscaden Road.

Delfi Orchard has been built up to its approved development baseline of 131,186 sq ft, equivalent to a plot ratio of 6.474, over the site’s approved Master Plan ratio of 4.9.

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