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

The building is about 500m away from the Haw Par Villa MRT Terminal on the Circle Line. It is also inside 2km of the National University of Singapore and National University Hospital.

The guide cost is approximately $1,099 psf accorded to the acreage. For a suggested redevelopment of the spot approximately the gross plot ratio of 1.4, the land rate exercises to approximately $1,308 psf per plot ratio, providing the land betterment expense, states Knight Frank Singapore.

A property household site on Pasir Panjang Road is up for deal by tender with a sign rate “over of $18 million”, says promotion representative Knight Frank Singapore.

Zoned for home utilization under the URA 2019 Master Plan, the site has a gross plot ratio of 1.4, which translates to an utmost gross floor location of almost 23,000 sq ft. It has a wide 43m front view along Pasir Panjang Road.

Chia Mein Mein, manager of resources markets (land and collective sale) at Knight Frank Singapore, mentions that the 16,379 sq ft spot, which currently houses a single-storey bungalow with a number of privies, is excellent for redevelopment.

The ability’s legal title is held by an one family members. Chia feature that this presents a chance for instant redevelopment, in the absence of the requirement to experience the uncertainties of a cumulative sale. She prepares for eager attraction in the tender offered the area’s attractive value quantum, fast turnaround time and also calculated location.

” The property has the possible to be redeveloped right into probably a store house development consisting of 21 units with a common measurements of 1,076 sq ft, or landed homes such as bungalows, semi-detached or porch homes, based on permission from the pertinent experts,” states Chia. She adds that the location would attract huge multi-generational or extended family members looking to construct a new residence.

Lentor Hills Residences showflat location

Gloria Mansion, a 12-storey freehold household development consisting of 31 condos, was offered en bloc for $70.3 million to Fraxtor Capital and a team led by the family offices of Daniel Teo and Teo Teck Weng in January. Meanwhile, Flynn Park, a 72-unit estate apartment, was sold off en bloc for $371 million ($ 1,355 psf ppr) to a joint venture involving Hoi Hup Real Estate and Sunway Developments in September 2021.

Mary Sai, Knight Frank Singapore’s executive director, funding markets, says the purchase of close-by projects Gloria Mansion and also Flynn Park in the recent months has propelled interest in the place. “With the Greater Southern Waterfront transformation plan on the horizon, this posting is an interesting chance for investors and also property owners,” she adds.

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

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