SINGAPORE, 21 February 2018 – A residential redevelopment site located at 1 – 21A Jalan Molek and 217 – 223A Guillemard Road (the “Properties”) has been put up for sale by a single owner. Cushman & Wakefield, the appointed exclusive marketing agent for the Properties is pleased to offer the rare 9,999-year leasehold site for sale by tender, closing on 20 March 2018 (Tuesday) at 3.00pm.
The subject site, comprising 15 existing two-storey terrace houses, is situated within walking distance from Mountbatten MRT Station (CC7), Dakota MRT Station (CC8) and Alunied MRT Station (EW9). The properties enjoy wide array of amenities including shopping malls at Leisure Park Kallang and One KM, eateries at Geylang area and Old Airport Road Food Centre, as well as the Singapore Sports Hub. It is also located within 1 kilometre from the prestigious Kong Hwa School and Geylang Methodist School.
Zoned “Residential/Institution” with a Plot Ratio of 2.8 under Master Plan 2014, the Properties sit on a land plot of 3,449.60 sq m (approx. 37,131sq ft) with a baseline Gross Floor Area (“GFA”) of 7,160.1277 sq m (approx. 77,071 sq ft). It has the potential to be redeveloped into a new residential development with an allowable GFA of 9,658.88 sq m (approx. 103,967 sq ft). With the inclusion of a 10% bonus balcony area, the maximum GFA will be increased to 10,624.77 sq m (approx. 114,364 sq ft). The provisional permission has already been obtained for the proposed erection of a part-5 / part-8 storey residential development with attic (total 137 units), carpark at 1st storey and basement, communal swimming pool at 2nd storey and communal landscape roof at 6th storey.
According to Mr. Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, the Properties offers a compelling opportunity for the development of a condominium project in an established residential enclave in the Eastern Part of Singapore, within 10 minutes’ drive to the CBD and Orchard Road. The future residents here can expect a wide spectrum of amenities such as the Singapore Sports Hub and eateries at Geylang area and Old Airport Road Food Centre. The famous Kong Hwa School is also just 400 metres away from the Properties.
“At the indicative price of S$99 million with a development charge of about S$14.6 million to maximize the GFA including the additional 10% bonus balcony, the land rate for the 9,999-year site will come up to approximately $993 per sq ft per plot ratio,” noted Mr. Poh.
For further information, please contact:
Executive Director, Capital Markets
+65 6232 0882 / +65 9662 6430
Head of Strategic Marketing, Singapore
+65 6232 0806 / +65 9647 0611