SINGAPORE – Casa Sophia, a freehold private site in District 9 will be put up for a collective sale with a reserve price of S$36 million.
Each owner stands to receive between $2.69 million and $3.4 million, said marketing agent, ERA Realty Network.
Situated in the heart of Mount Sophia, the 12-unit development sits on 12,327.9sqft of land and they are all three-bedroom units measuring 1,152 to 1,453sqft.
Under the Urban Redevelopment Authority’s Master Plan 2014, the site is zoned “Residential” with a gross plot ratio of 2.1.
Mr. Tjhai Citanegara, a representative from ERA said: “All owners are very supportive and we are happy to have garnered 100% consensus. The location is surrounded by prestigious schools and is close to the heart of Orchard Road, projects here will definitely appeal to both investors and families.”
Developments in Mount Sophia are attractive to investors due to its prime location at District 9, a 10-minute walk to Dhoby Ghaut MRT and 15-minute walk to Orchard Road.
The property is also in the vicinity of high-profile schools such as Saint Margaret’s Primary School, Nanyang Academy of Fine Arts, LASALLE College of the Arts, School of the Arts Singapore and Singapore Management University.
The tender for the site will close on Tuesday, August 14 at 3pm.
Article contributed by ERA Realty Network Pte Ltd.