Not only are non-landed private properties being sold en masse, apparently so are landed residential properties.
Up to sale: 9,999-year leasehold site consisting of 15 terraced houses
15 terraced houses owned by a single owner have just been put up for sale for $99 million. The 9,999-year leasehold site in Jalan Molek just off Guillemard Road have been put up for tender last week. The tender is open for about a month, closing at 3pm on the 20th of March.
The potential for the 37,131 sq ft site is substantial as it has a plot ratio of 2.8. Zoned for residential/institution purposes, the land plot has a maximum gross floor area of 114,364 sq ft (including an added 10% bonus balcony area). The allowable gross floor area is 103,967 sq ft. After taking into account the development charge of $14.6 million, the land rate comes up to $993 psf ppr.
Site located near a few MRT stations and 10 minutes away from the CBD
Over and above the cost-effective land rate, the site is located in a spot popular with investors and future buyers. Just a 10-minute drive away from the Central Business District (CBD), it is also situated near a few MRT stations such as Mountbatten, Dakota and Aljunied.
There are also a number of education institutions nearby, such as Dunman High School and Chung Cheng High School (Main).
Plans to build a 137-unit residential development have already been put into action. The provisional permission has been obtained and the new part-five/part-eight storey condominium will have a swimming pool and a communal landscape roof.