Chancery Court, a former HUDC (Housing and Urban Development Company) was sold in a collective sales in the 2nd quarter of 2018 for S$401.78 million. The winning bid for this Dunearn Road site translates to a land price of about S$1,610 per square foot per plot ratio (psf ppr), after factoring in a differential premium and lease upgrading premium of some S$182.4 million. This is to redevelop the site to a gross plot ratio (GPR) of 1.4, based on the maximum permissible gross floor area (GFA) of 362,788 sq ft, and to top up the lease to a fresh 99 years.
