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

The real property’s legal title is held by a solo family members. Chia emphasize that this presents a possibility for immediate redevelopment, in the absence of the need to go through the uncertainties of a shared sale. She prepares for eager attention in the tender given the area’s attractive rate quantum, quick turnaround time and calculated location.

Gloria Mansion, a 12-storey property consisting of 31 apartments, was sold en masse for $70.3 million to Fraxtor Capital and also a group led by the family firms of Daniel Teo and Teo Teck Weng in January. At The Same Time, Flynn Park, a 72-unit estate apartment, was offered en bloc for $371 million ($ 1,355 psf ppr) to a shared business venture between Hoi Hup Real Estate and Sunway Developments in September 2021.

” The residential property has the prospective to be redeveloped right into possibly a boutique home property making up 21 units with an ordinary dimension of 1,076 sq ft, or landed residential properties such as bungalows, semi-detached or patio residences, based on approval from the pertinent authorities,” claims Chia. She includes that the area would certainly interest big multi-generational or extended family members aiming to develop a new house.

The guide price is approximately $1,099 psf accorded to the land area. For a suggested redevelopment of the area as much as the gross plot ratio of 1.4, the land rate works out to roughly $1,308 psf per plot ratio, consisting of the land improvement cost, states Knight Frank Singapore.

Mary Sai, Knight Frank Singapore’s managing supervisor, capital markets, states the purchase of close-by projects Gloria Mansion as well as Flynn Park in the previous months has spurred interest in the area. “With the Greater Southern Waterfront improvement plan on the boundary, this site is an interesting chance for capitalists as well as home owners,” she includes.

The residential property is about 500m outside the Haw Par Villa MRT Station on the Circle Line. It is likewise in just 2km of the National University of Singapore and also National University Hospital.

A freehold property site on Pasir Panjang Road is up for purchase by tender with a measure rate “over of $18 million”, states promotion and marketing agent Knight Frank Singapore.

Zoned for household utilization under the URA 2019 Master Plan, the location has a gross plot ratio of 1.4, which equates to an utmost gross floor area of roughly 23,000 sq ft. It has a broad 43m front view along Pasir Panjang Roadway.

Liv@MB Bukit Sembawang Estates Limited

Chia Mein Mein, manager of capital markets (land and collective sale) at Knight Frank Singapore, indicates that the 16,379 sq ft location, which at present houses a single-storey bungalow with several outhouses, is suitable for redevelopment.

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

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