At a guide price of $63 million, owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road in Singapore have relaunched the property for tender. The four-storey development was first put up for collective sale in July last year, with an indicative price of $65.5 million. Despite several offers below the asking price, the sole marketing agent, Huttons Asia, is optimistic of interest in the 9,999-year Tanjong Katong site.
The site has a land area of around 32,397 ft and is zoned for residential use with an allowable gross plot ratio of 1.4 under the 2019 Master Plan. This could theoretically yield 45,356 ft of gross floor area upon redevelopment, with the potential to house 49 apartments with an average size of 915 sq ft.
At a land rate of $1,401 psf per plot ratio (psf ppr) after taking into account an estimated land betterment charge of …
| Powered by WordPress | Theme by TheBootstrapThemes
