SINGAPORE – Sole marketing agent, Singapore Realtors Inc (SRI) is pleased to announce the launch of St Thomas Lodge for sale via an expression of interest (EOI) exercise.
Located in prime District 9, St Thomas Lodge has a land area of approximately 664.4 sq m or 7,152 sq ft and is zoned for residential use at gross plat ratio of 2.8 under the Urban Redevelopment Authority’s (URA) Master Plan 2014.
The property comprises 5 apartment units with a total strata area of 8,826 sq ft. It is held under a single ownership and the sale will not be subjected to approval from the Strata Titles Board (STB) or High Court. Given its single-owner status, the sale will provide certainty of completion of the site purchase.
The indicative guide price of the site is about S$40 million, reflecting a unit land rate of S$2,293 per square feet per plot ratio including development charge for the intensification of the site.
The successful tenderer could potentially amalgamate with either of the neighboring plots for redevelopment. The tender exercise for No. 30 St Thomas Walk closes on 3rd July 2018, while St Thomas Ville (No. 38 St Thomas Walk) is undergoing collective sale.
“Since the beginning of the year there have been 37 successful collective sales deals totalling S$10.35 billion, and have surpassed the S$8.52 billion achieved in 2017. The proportion of the 17 deals from District 9 & 10 alone worth S$4.53 billion represented almost 46% in deals done in the first half of 2018. We believe the expression of interest exercise will draw keen interest from parties looking to amalgamate with either neighbouring plot for redevelopment.”, cites Mr Tony Koe, Managing Director of SRI.
The expression of interest closes at 12 pm on 30th July 2018.
Article contributed by Singapore Realtors Inc (SRI).