SLP Scotia is officially announcing the launch of collective sale Pinetree condominium that sits at Balmoral Road with a reserve price of S$148 million.
From this reserve price, owners stand to gain between $2.57 million and $4.09 million once the en bloc sale process is complete.
Pinetree condo is a 50 unit residential development site. Additionally, it lies on 3842.50 Sq m (roughly 41276.14 sq ft) and a plot ratio of 1.6 as stipulated by the 2014 Master plan.
The freehold property has a high development baseline of 75,115 sq ft according to the URA record. Therefore, the site doesn’t incur a development charge.
From estimations made by SLP Scotia, the site is viable for a 12-storey development with up to 75 apartments. Ideally, each apartment will be approximately 70 sq meters.
The District 10 freehold property is located at 28 Balmoral Park. One of the prestigious address and sought-after homes in Singapore.
There are over 13 enbloc sites sold between 2017/2018 in this developer’s “target zone”.
The competition is very high in this area as there are several en bloc sites launched during the last few months.
Needless to say, developers have many options and any site that offer attractive price with superior location will only get them attention.
Pinetree Condo site boasts of a naturally high altitude which gives the property an advantage and is located close to Ardmore Park.
Moreover, there are prestigious schools around, for example, Raffles Girl’s School, Anglo-Chinese school on Baker road and Singapore Chinese girls’ school.
Access to the condo is easy since it sits at the heart of significant expressways, major roads, and an interchange station.
It is near Stevens Road, Scott’s Road, Pan-island expressway, central freeway as well as the Steven MRT interchange station.
The freehold site is short drive to Orchard road, the largest shopping belt in Singapore.
The tender for Pinetree Condo closes on August, 30th