Freehold residential site in Pasir Panjang up for sale at $18 mil
Chia Mein Mein, head of resources markets (land and cumulative sale) at Knight Frank Singapore, notes that the 16,379 sq ft site, which presently houses a single-storey bungalow with numerous privies, is ideal for redevelopment.
The residential or commercial property’s lawful title is held by a solitary household, which Chia suggests, will quicken the sale process compared to “the uncertainties of a collective sale”. She prepares for keen rate of interest in the tender provided the site’s tasty rate quantum, rapid turnaround time and calculated area.
The overview cost is around $1,099 psf based on the acreage. For a recommended redevelopment of the website up to the gross plot ratio of 1.4, the land rate exercises to around $1,308 psf per plot proportion, consisting of the land betterment fee, states Knight Frank Singapore.
The property is about 500m away from the Haw Par Villa MRT Station on the Circle Line. It is likewise within 2km of the National University of Singapore as well as National University Hospital.
Gloria Mansion, a 12-storey freehold residential growth comprising 31 homes, was marketed en bloc for $70.3 million to Fraxtor Capital and a group led by the household workplaces of Daniel Teo as well as Teo Teck Weng in January. Flynn Park, a 72-unit property condominium, was offered en bloc for $371 million ($1,355 psf ppr) to a joint endeavor in between Hoi Hup Realty as well as Sunway Developments in September 2021.
Mary Sai, Knight Frank Singapore’s executive director, resources markets, says the sale of nearby growths Gloria Mansion as well as Flynn Park in the past months has actually spurred passion in the location. “With the Greater Southern Waterfront improvement plan on the horizon, this listing is an amazing opportunity for house owners as well as capitalists,” she includes.
“The residential property has the potential to be redeveloped into either a store property development comprising 21 systems with an average size of 1,076 sq ft, or landed homes such as bungalows, semi-detached or terrace residences, based on approval from the pertinent authorities,” says Chia. She adds that the website would attract big multi-generational or extended families seeking to construct a new residence.
A freehold property website on Pasir Panjang Road is up for sale by tender with a measure cost “in excess of $18 million”, claims marketing representative Knight Frank Singapore.
Zoned for domestic use under the URA 2019 Master Plan, the website has a gross story proportion of 1.4, which translates to an optimum gross floor area of practically 23,000 sq ft. It has a large 43m frontage along Pasir Panjang Road.
Bukit Batok Town Park lies near the Bukit Gombak MRT terminal, making it a popular place for wedding events and digital photography sessions. The picturesque setting of the park is reminiscent of picturesque sights in Guilin, China. The park is prominent with pet walkers, joggers, and also Instagrammers.
Bukit Batok Executive Condominium
Bukit Batok West Avenue 8 EC is well linked to services such as the West Mall as well as Bukit Batok West Shopping Centre. The neighbourhood also has a healthcare facility, oral clinics, and community collections. Additionally, several renowned colleges remain in the location, consisting of the Greenridge Primary School, Swiss Cottage Secondary School, and South View Primary School. These institutions are superb for children at the Bukit Batok West Avenue 8EC.
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