Freehold residential site in Pasir Panjang up for sale at $18 mil

The real estate’s legitimate title is held by an one family members. Chia emphasize that this presents a chance for instant redevelopment, without having the need to go through the uncertainties of a shared sale. She anticipates eager interest in the tender given the site’s palatable value quantum, fast turnaround time and also calculated location.

The building is about 500m far from the Haw Par Villa MRT Station on the Circle Line. It is additionally within 2km of the National University of Singapore as well as National University Hospital.

” The residential property has the possible to be redeveloped right into possibly a boutique residential development consisting of 21 units with a typical measurements of 1,076 sq ft, or landed residences such as bungalows, semi-detached or patio houses, subject to approval from the appropriate authorities,” states Chia. She adds that the area would attract big multi-generational or extended family groups aiming to develop a brand-new house.

A property household location on Pasir Panjang Road is up for profit by tender with a sign price “over of $18 million”, claims promotion and marketing agent Knight Frank Singapore.

Perfect Ten Condo Bukit Timah Road

Chia Mein Mein, manager of resources markets (land and collective sale) at Knight Frank Singapore, marks that the 16,379 sq ft location, which presently houses a single-storey home with a number of privies, is suitable for redevelopment.

Mary Sai, Knight Frank Singapore’s corporate supervisor, funding markets, claims the selling of close-by buildings Gloria Mansion and Flynn Park in the past months has actually spurred interest in the local area. “With the Greater Southern Waterfront improvement plan on the border, this posting is an exciting chance for financiers and also homeowners,” she incorporates.

Gloria Mansion, a 12-storey freehold residence property comprising 31 condominiums, was marketed en masse for $70.3 million to Fraxtor Capital and also a group led by the household workplaces of Daniel Teo as well as Teo Teck Weng in January. At The Same Time, Flynn Park, a 72-unit property apartment, was sold off en bloc for $371 million ($ 1,355 psf ppr) to a mutual venture involving Hoi Hup Real Estate as well as Sunway Developments in September 2021.

Zoned for household usage under the URA 2019 Master Plan, the site has a gross plot ratio of 1.4, which translates to a highest gross flooring location of roughly 23,000 sq ft. It has a vast 43m frontage along Pasir Panjang Road.

The guide cost is around $1,099 psf accorded to the acreage. For a recommended redevelopment of the site as much as the gross plot ratio of 1.4, the land price works out to roughly $1,308 psf per plot ratio, featuring the land betterment cost, claims Knight Frank Singapore.

The tender will certainly close on Oct 13 at 3pm.

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