Redevelopment site at Pasir Panjang Road sold to Silver Edge Investment for $18.5 mil

It stands beside lots of exclusive residences, furthermore is within strolling range of Haw Par Villa MRT Terminal on the Circle Line. The National University of Singapore, National University Hospital, Science Park II including Mapletree Business Park are actually a brief travel away.

Silver Edge Investment, a high-end residence property developer, was established in 2017 and currently has $50 million value of ventures in its own pipeline.

The Pasir Panjang Road location has a land area of 16,379 sq ft and is zoned residential use with a gross plot ratio of 1.4. The existing development includes a main single-storey bungalow with several outhouses.

Chia expects demand to follow from the expansion of the regional wealth population together with the extra of current high-net-worth citizens.

Lentor Hills Residences condo

Other non commercial proposals in Silver Edge Investment’s pipe consist of 2 separated homes on 52 Wilkinson Road also a solo removed bungalow at 37 Poole Road, both of these set up for finish at the end of 2022.

“This property obtained eager interest from possible clients searching for a palatable-sized redevelopment opportunity with outstanding locational attributes,” claims Chia Mein Mein, the head of financing markets (land and collective sale) at Knight Frank. The potential for redevelopment right into houses or landed residences was a primary draw, she incorporates.

“The residence is purposefully established within rich greenery with effortless accessibility to West Coast Park, Southern Ridges along with various other environment-friendly locations along the upcoming Greater Southern Waterfront,” claims Mary Sai, executive supervisor of financing markets at Knight Frank Singapore.

Silver Edge Investment prepares to redevelop the location into specific niche landed houses, according to its managing affiliate Christopher Tong. He presumes the prospective residences at the area to appeal to home purchasers that aspire to “reside in an exciting location inside the well established residential enclave at Pasir Panjang”.

A freehold household redevelopment spot on 303 as well as 305 Pasir Panjang Road was marketed to Silver Edge Investment Holdings for $18.475 million, according to a press release on Oct 20 from Knight Frank, which brokered the agreement.

Silver Edge Investment Holdings earned the quote at $475,000 on top of the guide rate of $18 million, translating to a land rate of $1,128 psf.

The tender exercise was released on Sept 15 and sealed on Oct 13.

error: Content is protected !!