Gerald Crescent Redevelopment Site Up For Sale For $25mil
A reconditioning location at 2F Gerald Cres. was kicked off offer for sale by means of tender by having a lead deal of $25 million, revealed exclusive marketing and advertising rep Edmund Tie.
The price formulates to approximately $785 per square foot accorded to the spot’s measurement of 31,882 square ft.
Discovered within the Seletar Hills landed property acreage, the 9hundred 99 years rental spot is utilized by a deserted landed property.
The ordinary designed site, which is sector for three floors bundled landed homes under the 2019 Master Plan, is accommodated for “a variety of landed housing kinds and also combinations”, revealed the marketing and advertising representative.
It is within stone’s throw Sungei Punggol river alongside the Punggol PC. ET&Co marked the fact that plannings are initiated “to improve the nearby Punggol Reservoir right into an active spot for pastime water fun time as aspect of the existing Master Plan”.
Dining, shopping plus entertainment features amongst the vicinity feature The Seletar Mall, Greenwich V, The Oval @ SAP also Seletar Country Club.
The house is definitely in close proximity to numerous schools consisting of Nan Chiau High School, Rosyth School, Nanyang Polytechnic, Australian International School and also IFS.
” Substantial refitting sites for landed house are not usually attainable. The residential property, that is maintained by a single property owner, also grants an awesome option for quick refitting,” revealed Ms Swee, Executive Director of Inv Advisory in Edmund Tie.
Beside house builders interested on redividing the location to a few landed houses, Shou Fern furthermore looks forward to attention “from HNW also multi-generational family groups aiming to invest for their private stay”.
” With limited number of landed property in S’pore, an increasing thing to attain larger residences because of the work-from-home arrangements plus a reduced rate of interest atmosphere, we anticipate need for landed home to continue to be stable.”
The bid to obtain 2F Gerald Crescent terminates on 9 Feb.