Two freehold central sites up for en bloc
24-unit Summer Green being marketed for S$48m; while 31-unit Chancery Esquire is looking at above S$86.6m
Earlier this month, Knight Frank also launched Chancery Esquire for collective sale. Owners at the 31-unit, 29,022 sq ft development along Chancery Lane are expecting offers above their reserve price of S$86.6 million.
This translates to a land rate of approximately $1,797 psf ppr with no development charge payable, subject to URA’s development baseline search. Owners could receive between S$1.94 million and S$3.76 million in proceeds.
Based on the existing gross floor area (GFA) of 48,188.6 sq ft and assuming an average size of 753 sq ft, the site could potentially yield 63 new residential units …..
For the full article, pls visit:
https://www.businesstimes.com.sg/real-estate/two-freehold-central-sites-up-for-en-bloc
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You may also be interested in the following:
* 78 condos in Singapore with enbloc potential, 80% vote & due en bloc process
* Implications of URA Master Plan and LTA Master Plan for Singapore’s property market
* List of condos that successfully went en bloc in 2017-2018
Mike Tan | CEA Regn R059706Z | 98280030