In a recent announcement on Monday (Nov 20), the Singapore Land Authority (SLA) and Urban Redevelopment Authority (URA) dropped a bombshell – the lease for the land currently occupied by the iconic Raffles Town Club will not be renewed when it expires in 2026.
The Prime Location Advantage
The site, nestled at 1 Plymouth Avenue near Stevens MRT station, is earmarked for future residential development. This move aligns seamlessly with the agencies’ overarching goal of redeveloping brownfield sites to address the ever-growing housing demand in Singapore.
Unlocking Development Potential: Plot Ratios and Architectural Aspirations
Tthe strategic location of the current Raffles Town Club site at the intersection of Whitley and Dunearn Roads opens up possibilities for a higher plot ratio, potentially reaching 1.6 or even 2.1. This foresight could pave the way for the creation of a towering landmark that defines the area.
Market Insights: Projections and Speculations
Analyst states that the land envisions a potential sale for private homes, estimating a plot ratio of 1.4. Teck dreams of a luxurious project featuring 160 to 190 units, each averaging between 85 to 100 square meters. The estimated land bid? A staggering S$1,500 per square foot per plot ratio (psf ppr) if launched today.
Operational Continuity: A Grace Period for Raffles Town Club
The lease of Raffles Town Club extends until Oct 17, 2026, providing the club with the opportunity to continue operations at the current site until that date. SLA has expressed its commitment to collaborate with the club on the smooth return of the land to the government. Should the club wish to persist beyond the lease, it has the option to explore state properties through open tender or other avenues in the open market.
Club’s Response and Future Considerations
In response to inquiries, Raffles Town Club acknowledged being apprised of the redevelopment plans by SLA on Monday. While the lease’s impending expiry in October 2026 was known, the spokesperson refrained from specifying the club’s intentions post that date. This leaves an air of uncertainty around the fate of this establishment that has been a cornerstone since its establishment in March 2000.
A Glimpse Into Raffles Town Club: Beyond the Announcement
Established over two decades ago, Raffles Town Club stands as a symbol of prestige and exclusivity. With affiliations with over 50 international clubs and the inclusion of a Mindchamps preschool, the club has left an indelible mark on Singapore’s social landscape.
Membership Dynamics and Financial Implications
Although memberships are currently closed, individual memberships on the open market range from S$8,000 to over S$9,000, accompanied by a monthly subscription fee of approximately S$80 for an individual or S$120 for a family. These figures add a layer of complexity to the potential decisions the club may make in the coming years.
Conclusion: Navigating Change and Preserving Legacy
As the curtains draw on the future of Raffles Town Club’s current site, the landscape of Singapore’s architectural and social tapestry is set to evolve. The intersection of history, strategic urban planning, and the pulse of the real estate market converges in a narrative that unfolds over the next few years.
FAQs
- Q: Can Raffles Town Club continue operations after the lease expires in 2026?
- A: Yes, the club has the option to explore state properties through open tender or other avenues in the open market.
- Q: What is the estimated bid for the land if launched today?
- A: The estimated winning land bid could exceed S$1,500 per square foot per plot ratio (psf ppr).
- Q: When was Raffles Town Club established?
- A: Raffles Town Club was established in March 2000.
- Q: How many international clubs is Raffles Town Club affiliated with?
- A: The club is affiliated with over 50 international clubs.
- Q: What are the current membership fees for Raffles Town Club?
- A: Although memberships are closed, individual memberships on the open market range from S$8,000 to over S$9,000, with a monthly subscription of about S$80 for an individual or S$120 for a family.