3 Adjoining Sites located Bukit Timah Road, Duke’s Road Up For Collective Sale
3 adjoining mixed-use redevelopment websites situated at 551 to 553 Bukit Timah Road and 6 to 8 Fight it out’s Roadway, including a driveway, have been set up for collective sale, bring a guide cost of $62.5 million, reported Business Times (BT).
With an area of 16,479 sq ft, the property site is zoned for household and industrial use under the 2019 Plan of attack with a gross plot ratio (GPR) of 3.0 as well as a height restriction of as much as 5 storeys, said sole advertising and marketing representative JLL.
Presuming 80% of the gross floor area (GFA) is for household usage and also 20% is for commercial use, the website’s device land cost stands at around $1,658 per sq ft per story proportion (psf ppr), comprehensive of the development fee.
After taking into consideration an extra 7% benefit GFA for terraces of the property part, the system land price will certainly stand at $1,621 psf ppr, inclusive of growth fee.
Featuring three walk-up apartments as well as 2 store units, the 7,727 sq ft site at 551 to 553 Bukit Timah Road includes an overview price of $30 million.
The 8,752 sq ft website at 6 to 8 Fight it out’s Road, which includes the driveway, has an overall guide rate of $32.5 million. It makes up five walk-up apartments and also 2 shops.
All proprietors at the respective growths have actually consented to the en bloc sale, which implies no Strata Titles Board application is required for the sale.
About 300 meters from Botanic Gardens MRT Interchange, the entire residential property is bounded by Queen’s Road, Battle each other’s Road, and also Bukit Timah Road. The Orchard Roadway purchasing belt is a simple 10-minute drive via Stevens Roadway.
The residential property is additionally within the area of Coronation Plaza, Cluny Court, and also Serene Centre. It is additionally near the Botanic Gardens as well as Adam Road Food Centre.
Nearby schools consist of Raffles Girls’ Primary School, Nanyang Primary School as well as St. Margaret’s High school.
JLL Executive Supervisor of Resources Markets Tan Hong Boon expects the home to get “excellent responses from little to mid-sized developers”.
He noted that the home offers programmers an unusual opportunity to redevelop the site right into a shop freehold growth with greater than 40 household units averaging 85 sq m with retail devices at the very beginning.
The tender for the websites closes on 4 March.
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