Three-Storey Building Sold For $18mil In This Year’s First Collective Sale
Located near Mt Emily Park, the free from lease residences covers a complete ground range of 5,549 sq foot as well as includes an existing GFA of 16,138 sq ft. Zoned for domestic use under the 2019 Urban Redevelopment Authority Master Plan, the residential property carries a PR of 2.1.
It lies at the edge of the city centre, with the Lil India MRT terminal a mere two hundred m afar. The property is likewise within neighboring vicinity to Orchard Rd and the Core Biz Area.
Swee Shou Fern, ED of Inv Advisory at Edmund Tie & Company, reported that the $Eighteen mil figure calculates to a land fee of $1,115 psf per plot ratio, with zero building fee payable as a result of the house’s great development standard.
” The offer appealed to truly spirited excitement coming from venture capitalists together with builders caused by its excellent place along with small quantum. The one hundred% homeowners’ authorization also supplied the creator assurance in agreement finalization timeline,” she further mentioned.
ZACD Grp Chairman Kain Sim said the procurement remains in channel along with the firm’s “goal in acquiring residences which has significance added probable in prime sites”.
” I notice a fantastic future to establish this property into an extraordinary product for city residing.”
ZACD Group is a combined asset leader publicly traded in Hong Kong and also headquartered in S’pore.