SINGAPORE – – Knight Frank Singapore is pleased to announce the relaunch of the sale of freehold landed residential redevelopment site along Upper Changi Road, with a lower asking price.
Knight Frank is the sole marketing agent for the site, which is up for sale by Expression of Interest (EOI).
537 Upper Changi Road is an existing, freehold single-storey house with a site area of 1,413.2 sqm (approx. 15,212 sq ft). Under the 2014 Master Plan, the site is zoned “Residential, 3-storey mixed landed”. Regular in shape, the site enjoys dual frontage onto Upper Changi Road and Jalan Angin Laut.
Ms Mary Sai, Executive Director, Investment and Capital Markets, Knight Frank Singapore, shares, “During the earlier exercise, the owner received several bids, but they failed to meet the previous asking price of S$16 million. After much consideration, the owner agreed to launch the property for sale again at S$13.8 million.”
Subject to approval from the authorities, the subject site can be redeveloped into eight terrace houses. With an indicative guide price of approximately S$13.8 million, this translates to a land rate of approximately S$907 psf.
The subject site is nestled within an exclusive landed residential enclave and is in good proximity to amenities and exhibitions spaces at Eastpoint Mall, Singapore Expo and Changi City Point.
Expo MRT interchange and Simei MRT station on the East-West Line and Upper Changi MRT Station on the Downtown Line are also located within the vicinity of the property.
The EOI for the property will close on 22 August 2019, Thursday at 3 pm.