One of them is Hertford Mansion near Farrer Park and diagonally opposite Kandang Kerbau (KK) Women’s and Children’s hospital.

It has a site area of 11,527 sq ft and is asking for $12 million or $744 per sq foot per plot ratio (psf ppr).  The break-even cost is about $1,100 to $1,200 psf.

It could be rebuilt into a small 5-strorey apartment block with 20 units of 900 sq ft each.

Another en bloc sale project is District 10 Holland Hill Lodge at Holland Hill area behind Hollandia. It has a site area of 9,033 sq ft and is asking for $16 million or $1,108 psf ppr. The break-even price is approximately $1,500-$1,600 psf.

The interesting point about Holland Hill Lodge is that it has already obtained 100% consent from all the owners and no Sale Order from Strata Titles Board is needed. This may be a sign of more realism among the sellers, given the quiet market. It means that when a buyer is found, the deal can be completed within three months. (4 Oct)

Edited by Sam Gian – Independent Real Estate Sale Consultant and trainer