SINGAPORE, 9 April 2018 – United Mansion at 592 to 614 East Coast Road, Singapore 458996 - 459007, located in the heart of the exclusive Siglap / Frankel estate, has been put up for collective sale. Cushman & Wakefield, the appointed marketing agent, is pleased to announce that 89.5% consensus in share values and strata area has been garnered to launch the site for sale by tender.
United Mansion is a freehold site with a land area of 5,135.2 sq m (55,275 sq ft approximately). The site is within a “3-storey mixed landed” housing area, according to the Master Plan 2014 and is allowed to retain its current 4-storey building height along with its verified Gross Floor Area of 6,129.33 sq m (65,975 sq ft approximately). The site can potentially yield 87 apartment units with an average size of 70 sq m gross floor area, subject to relevant authorities’ approval.
The property is within walking distance from the hip and happening Siglap neighbourhood, the ‘Holland Village of the East’, with plenty of eateries, gourmet coffee joints, lifestyle, creative and enrichment centres for children. Parkway Parade and I12 Katong mall as well as the charming heritage shophouses in the Siglap, Joo Chiat and Katong areas which hosts an eclectic mix of classy restaurants, boutique cafes and food centres for local bites is also a short drive away.
Several reputable schools such as Ngee Ann Primary School, CHIJ Katong Convent, St. Patrick School, Victoria Junior College, St. Stephen’s School and Global Indian International School are within a 1km radius. The site is strategically located and easily accessible via the Pan Island Expressway (PIE) and the East Coast Parkway (ECP) which also directly connects to the Raffles Place Central Business District and Downtown Core.
Ms Christina Sim, Director of Capital Markets at Cushman & Wakefield commented: “There is a limited supply of freehold low-rise residential sites in the Siglap/ Frankel Estate locality. The site will certainly appeal to small and mid-size developers looking for a boutique residential redevelopment opportunity in the highly sought-after Siglap neighbourhood. Currently, there is also an undersupply of saleable units in this locale. At the reserve price of $98 million and no development charges payable, the land rate translates to $1,485 per sq ft per plot ratio.”
The tender will close on 9 May 2018 (Wednesday) at 3.00pm.
For further information, please contact:
Director, Capital Markets
+65 6317 8333 / +65 9638 8813
Assistant Communications Manager, Asia Pacific
+65 6317 8305 / +65 9769 7050
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.