Three-Storey Building Sold For $18mil In This Year’s First Collective Sale
Located near Mount Emily Park, the freehold homes occupies an overall location size of 5,549 square foot and also includes an existing GFA of 16,138 square foot. Zoned for residence purpose under the ’19 Urban Redevelopment Authority Master Plan, the residential property carries a PR of 2.1.
It lies at the edge of the city core, with the Little India MRT interchange a mere 200 meter distant. The property is in addition within close distance to Orchard Road plus the Central Biz Area.
Swee Shou Fern, Executive Director of Investment Advisory at ET&Co, revealed that the $18 million amount works out to a land fee of $1.115K per sq ft ppr, without any building rate charged as a result of the residence’s elevated creation baseline.
” The tender captivated surprisingly keen excitement from opportunists plus builders because of its prime area furthermore little sum. The 100percent home owners’ consent at the same time granted the builder confidence in offer finalization timeline,” Shou Fern add on.
ZACD Group Chairman Kain Sim mentioned the possession continues in track along with the business’s “concentration in obtaining houses that has market value beefed up possible in prime locations”.
” I glimpse a terrific possibility to build this residential property toward an extraordinary package intended for metropolitan residing.”
ZACD Group is a combined property organizer listed in HK and main office in SGP.