SINGAPORE – Knight Frank is pleased to announce that Dunearn Court, a 12-unit development located off Dunearn Road, has been sold collectively to RH Central Pte Ltd for $36.3 million.
The sale price, with a development charge of approximately $550,000 to redevelop the site to a gross plot ratio (GPR) of 1.4 as stated in the URA Master Plan 2014, translates to a land price of approximately $1,371 per square foot per plot ratio (psf ppr).
Each owner will stand to receive a gross sale price of approximately $2.91 million to $3.12 million, which works out to approximately $2,004 psf to $2,140 psf, upon completion of the sale.
Dunearn Court comprises of 12 apartments with a site area of 1,784 sq m (approximately 19,203 sq ft).
Mr Ian Loh, Executive Director and Head of Investment & Capital Markets at Knight Frank, says, “The new development could potentially yield 35 new residential units of 70 sq m on site. The new project will cater to a wide variety of buyers, given its strong locational offering. It is situated within 500 metres from Tan Kah Kee MRT station and Botanic Garden MRT station, in close proximity to the Singapore Botanic Gardens and is within a 1km radius from several established schools, including Nanyang Primary School and Nanyang Girls’ High School.”
Earlier this year, Knight Frank concluded the sale of three collective sale sites – One Tree Hill Gardens, a rare landed residential redevelopment site located in the vicinity of Orchard Road, for $65 million; Rio Casa, a privatised HUDC along Hougang Avenue 7, for $575 million; as well as Normanton Park, a privatised housing estate originally built by the Housing Development Board (HDB) for Singapore Armed Forces personnel, for $830.1 million.