Casa Feliz, located along 81 Koon Seng Road in District 15, offers developers a unique opportunity for potential redevelopment. With an indicative price of $23 million and the potential to yield 18 residential units with an average size of 1,076 sq ft, potential buyers can expect to benefit from the site’s location away from the city centre as well as its numerous surrounding amenities. ERA Realty Network, the marketing agent for the property, notes that the indicative price translates to a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA. The tender for Casa Feliz will close on June 22 at 3pm.

Sited at 81 Koon Seng Road in District 15, Casa Feliz is a three-storey walk-up apartment with 12 residential units that is now on offer for collective sale via tender with an indicative price of $23 million. It is located just down the road from the iconic Peranakan Houses and right next to East Court, which was snapped up by developer Macly Group for $19.875 million last June.

The site boasts a land area of 13,976 sq ft with a gross plot ratio of 1.4 that could potentially yield 18 residential units with an average size of 1,076 sq ft, subject to approval by the relevant authorities. The indicative price works out to a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA, with an estimated land betterment charge of $1.25 million payable.

Strategic location, affordability and value are the main draws to Altura EC, a forthcoming Executive Condominium (EC) project located in West Avenue 8. Attracting attention from first-time buyers and HDB upgraders, the anticipated Q2 2023 launch will be met with enthusiasm. Boasting a S$1,300 per square foot price tag, Altura EC offers higher value than other private condominiums, so Singaporean families can take advantage of the high-quality facilities and amenities in the surrounding area.

Tay Liam Hiap, managing director of investment sales at ERA Singapore, remarked that “this is a unique opportunity for developers who are actively looking for high-potential redevelopment sites”. He added that the site furthermore provides an excellent balance of convenience and tranquillity with its location away from the city centre as well as the many surrounding amenities.

Casa Feliz is merely a few minutes’ drive away from popular malls like I12 Katong, Parkway Parde, KINEX and Paya Lebar Quarter Mall while its close proximity to Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School and Tanjong Katong Primary School makes it a desirable pick.

Should the collective sale be successful, each unit owner at Casa Feliz can expect gross sale proceeds ranging from $1.85 million to $2.01 million. The closing date for the tender is set at June 22 at 3pm.