At a guide price of $63 million, the owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for tender. Boasting a land area of about 32,397 ft, the four-storey development offers the potential yield of approximately 45,356 ft of gross floor area upon redevelopment, translating to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000.

This could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area. There is likely to be strong interest from interested parties due to the appealing location in District 15 – just five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub – and proximity to the CBD, Paya Lebar MRT Station, shopping malls and recreational facilities.

The tender closes on May 9 at 2pm.

Recent transactions of condominiums on Tanjong Katong Road imply a buoyant market. Notably, Tembusu Grand, the 638-unit condo by City Developments and MCL Land just off Tanjong Katong Road, saw 53% of units sold at an average price of $2,456 psf during its launch weekend on April 8 and 9.

Sole marketing agency Huttons Asia’s Terence Lian commented: “We expect that there would be keen interest from several developers in view of the buoyant and brisk sale of Tembusu Grand, which bodes well for the collective sale of this 9,999-year Tanjong Katong site”.

The attractive location of this 26-unit development is expected to draw strong interest from professionals and young couples who want to purchase their new homes. Angela Lim, Deputy Head of Investment Sales at Huttons Asia, commented: “We believe that it will be popular with both professionals and young couples who are looking for abundant convenience, as it is just five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub, where there is a great mix of retail, F&B and recreational offerings.”

The property was initially put up for collective sale at an indicative price of $65.5 million in July last year, and although there were several offers for the property below the asking price, the owners have now relaunched it with a guide price of $63 million.

Surrounding amenities, such as shopping malls, the Singapore Sports Hub, East Coast Park and F&B and cafe offerings in the Katong and Joo Chiat areas make this 26-unit development even more attractive, with potential for an average size of 915 sq ft across 49 residential apartments.

RELATED NEWS
CDL-MCL Land’s Tembusu Grand 53% sold at an average price of $2,465 psf
Freehold semi-detached house on Goodman Road on the market for $9.2 mil
CDL and MCL Land to launch Tembusu Grand in Katong at prices from $2,296 psf

The owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road are relaunching the property for tender at a guide price of $63 million. Located in desirable District 15, the site has a land area of around 32,397 ft, with the potential to yield up to 45,356 ft of gross floor area upon redevelopment.

Surrounding amenities such as shopping malls, the Singapore Sports Hub, East Coast Park and F&B and cafe offerings in the Katong and Joo Chiat areas make this an attractive proposition, with potential for an average size of 915 sq ft across 49 residential apartments. The guide price translates to a land rate of $1,401 psf per plot ratio, including an estimated land betterment charge of approximately $530,000.

Recent transactions of condominiums on Tanjong Katong Road imply a buoyant market. Notably, Tembusu Grand, the 638-unit condo by City Developments and MCL Land just off Tanjong Katong Road, saw 53% of units sold at an average price of $2,456 psf during its launch weekend on April 8 and 9.

The attractive location of this 26-unit development is expected to draw strong interest from professionals and young couples who want to purchase their new homes. It is 10 minutes away from the CBD and 500m from Paya Lebar MRT Station, offering abundant convenience. Terence Lian, Head of Investment Sales at Huttons Asia, commented: “We expect that there would be keen interest from several developers in view of the buoyant and brisk sale of Tembusu Grand, which bodes well for the collective sale of this 9,999-year Tanjong Katong site.”

The tender for the property closes on May 9 at 2pm.

RELATED NEWS
CDL-MCL Land’s Tembusu Grand 53% sold at an average price of $2,465 psf
Freehold semi-detached house on Goodman Road on the market for $9.2 mil
CDL and MCL Land to launch Tembusu Grand in Katong at prices from $2,296 psf

The owners of a 26-unit walk-up development at 52 to 62H Tanjong Katong Road have relaunched the property for tender at a guide price of $63 million. The four-storey development is zoned for residential use with an allowable gross plot ratio of 1.4, making it potentially yield approximately 45,356 ft of gross floor area upon redevelopment.

The guide price translates to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000. This could be lowered to $1,375 psf ppr after factoring in a 7% bonus balcony gross floor area.

HDB initiated public auction of Altura EC at Bukit Batok Altura EC West Avenue 8, offering 375 executive condo units, with bid winner being able to develop and lease a 99-year period. Bid winner Qingjian Realty and Santarli proposed a record S$662 psf ppr, higher than the second-highest bidder.

The attractive location of this 26-unit development is likely to draw strong interest from professionals and young couples who want to purchase their new homes. Angela Lim, Deputy Head of Investment Sales at Huttons Asia, commented: “We believe that it will be popular with both professionals and young couples who are looking for abundant convenience, as it is just five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub, where there is a great mix of retail, F&B and recreational offerings.”

Recent transactions of condominiums on Tanjong Katong Road imply a buoyant market. Notably, Tembusu Grand, the 638-unit condo by City Developments and MCL Land just off Tanjong Katong Road, saw 53% of units sold at an average price of $2,456 psf during its launch weekend on April 8 and 9. Terence Lian, Head of Investment Sales at Huttons Asia, noted: “We expect that there would be keen interest from several developers in view of the buoyant and brisk sale of Tembusu Grand, which bodes well for the collective sale of this 9,999-year Tanjong Katong site.”

Surrounding amenities such as shopping malls, the Singapore Sports Hub, East Coast Park and F&B and cafe offerings in the Katong and Joo Chiat areas make the 26-unit development even more attractive. Additionally, it is just 10 minutes away from the CBD and 500m from Paya Lebar MRT Station.

The sole marketing agency Huttons Asia mentioned that this property was initially put up for collective sale at an indicative price of $65.5 million in July last year, and that there were several offers for the property below the asking price.

The tender for the property closes on May 9 at 2pm.

RELATED NEWS
CDL-MCL Land’s Tembusu Grand 53% sold at an average price of $2,465 psf
Freehold semi-detached house on Goodman Road on the market for $9.2 mil
CDL and MCL Land to launch Tembusu Grand in Katong at prices from $2,296 psf