COLLECTIVE sale sites continue to be launched for tender, with Spanish Village in Farrer Road and Royalville in Bukit Timah Road being among the latest offerings. Both are freehold.
Spanish Village, with a land area of 331,457 sq ft, has an ‘indicative guide price’ of $878 million or about $1,700 per sq ft of potential gross floor area, including an estimated $23 million development charge (DC), says Steven Ming of marketing agent Savills Singapore.
The tender for Spanish Village closes on Nov 13. The site, which is within walking distance of Farrer Road MRT on the new Circle Line, has a plot ratio of 1.6 and can be redeveloped into a new condominium of up to 12 storeys.
Royalville, off Sixth Avenue, is being marketed by Credo Real Estate, which expects the 174,176 sq ft site to fetch $330 million to $350 million, reflecting a unit land price of about $1,235 to $1,305 psf per plot ratio (psf ppr). This includes an estimated $1.1 million DC should the developer build an additional 10 per cent of balcony gross floor area above the allowable 1.4 plot ratio.
The tender for Royalville closes on Nov 9.
Over at Lorong 39 Geylang, PropNex is marketing Hong Thye House, with a price tag of $15-17 million. This reflects a unit land price of $438 to 489 psf ppr including an estimated $1.9 million DC. The 13,822 sq ft freehold site is designated for residential use with a 2.8 plot ratio. The tender closes on Nov 5.
Source : Business Times - 9 Oct 2007