Freehold residential site in Pasir Panjang up for sale at $18 mil
Chia Mein Mein, head of resources markets (land as well as cumulative sale) at Knight Frank Singapore, notes that the 16,379 sq ft website, which currently houses a single-storey bungalow with several privies, is ideal for redevelopment.
The home’s lawful title is held by a single family, which Chia argues, will certainly speed up the sale process compared to “the uncertainties of a cumulative sale”. She expects keen rate of interest in the tender offered the website’s tasty rate quantum, quick turn-around time and strategic location.
The guide price is around $1,099 psf based on the acreage. For a suggested redevelopment of the site approximately the gross plot proportion of 1.4, the land price exercises to around $1,308 psf per story proportion, including the land improvement fee, claims Knight Frank Singapore.
The building is about 500m far 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.
A freehold domestic website on Pasir Panjang Road is up for sale by tender with a measure price “over of $18 million”, says advertising representative Knight Frank Singapore.
Mary Sai, Knight Frank Singapore’s executive supervisor, capital markets, claims the sale of neighboring developments Gloria Mansion and Flynn Park in the past months has spurred passion in the area. “With the Greater Southern Waterfront makeover plan on the perspective, this listing is an amazing possibility for property owners and capitalists,” she adds.
Zoned for residential use under the URA 2019 Master Plan, the site has a gross story proportion of 1.4, which converts to an optimum gross flooring location of nearly 23,000 sq ft. It has a large 43m frontage along Pasir Panjang Road.
Senja Close EC is also close to several public amenities as well as shopping malls, such as Tampines Plaza and Century Square. With all these centers, living in Bukit Panjang is a joy!
Senja Residences Project Details
The Senja-Cashew Community Centre in Bukit Panjang is a totally integrated CC as well as sports facility. It likewise features a sporting activities hall and also two dance studios.
Gloria Mansion, a 12-storey estate domestic advancement comprising 31 apartments, was marketed en bloc for $70.3 million to Fraxtor Capital as well as a group led by the family offices of Daniel Teo and Teo Teck Weng in January. At The Same Time, Flynn Park, a 72-unit freehold condo, was offered en bloc for $371 million ($1,355 psf ppr) to a joint endeavor in between Hoi Hup Realty and Sunway Developments in September 2021.
“The building has the prospective to be redeveloped into either a boutique domestic growth consisting of 21 units with a typical size of 1,076 sq ft, or landed residences such as cottages, semi-detached or terrace houses, based on authorization from the pertinent authorities,” states Chia. She includes that the site would certainly interest big multi-generational or relations wanting to develop a new house.
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