Three-Storey Building Sold For $18mil In This Year’s First Collective Sale
Situated near Mount Emily Park, the free lease properties occupies a total site area of 5,549 square foot as well as follows an existing GFA of 1,499.3 sq m. Sector for residential purpose within the 2K19 Urban Redevelopment Authority Master Plan, the residential property possesses a PR of 2.1.
It is strategically located at the edge of the town centre, with the Lil India Mass Rapid Transit station a mere 200 meter afar. The house is similarly within neighboring proximity to Orchard Road and also the Core Business District.
Swee Shou Fern, Exec Director of Inv Advisory at Edmund Tie & Company, reported the fact that the $18 mil figure formulates to a land rate of $1thousand 1hundred 15 per square foot per plot ratio, with zero development fee charged due to the property’s big building guideline.
” The offer caught the attention of extremely eager curiosity from creators together with investors caused by its excellent place and little quantum. The hundredpercent proprietors’ authorization furthermore gave the creator certainty in offer fulfillment timeline,” Swee further mentioned.
ZACD Grp Chairman Kain Sim said the possession exists in channel with the company’s “goal in obtaining residences which has significance beefed up possible in perfect locations”.
” I glimpse an excellent potential to establish this particular residential property in to an extraordinary offer intended for metropolitan lifestyle.”
ZACD Group is a joint asset leader publicly traded in HK also main office in SGP.
