Owners of House Nos. 75, 77 & 79 are Asking for a Minimum S$36 million
In addition to four complex freehold properties JLL is helping to sell en bloc, there are three separate houses along Lorong H. Telok Kurau, all single-storey and detached which the marketing agent is trying to sell collectively.
The area of the combined sites totals 24,050 sq ft and the owners of the properties are asking for a minimum price of S$36 million.
The public tender for the three houses is set to close on June 21, 2018.
For these properties that are owned by individual families, the new buyer will be in a position to begin development right away once the sale is made, since there will be no need for the Strata Title Board’s approval.
The developer could also choose to take advantage of the allowed 10% bonus balcony are, so that the gross plot ratio is 1.54 instead of 1.4.
The other freehold properties JLL Singapore is marketing alongside the three houses are Cavenagh Gardens, Flynn Park, Rosalia Park and La Ville, with owners of Cavenagh Gardens in District 9 asking for a minimum S$480 million for their 13-storey property.
JLL’s regional director, Tan Hong Boon, is confident the properties are going to attract great interest from foreign and local investors, as appetite is still great for freehold residential properties in the country.
The Sites Are in an Attractive Area
The three sites holding the detached houses whose tender JLL is handling are in a nice location with decent schools close by.
For example, Haig Girls’ School and Katong Primary School are within walking distance from the properties.
The freehold sites are short drive to upcoming Paya Lebar Central, a Mega Commercial Hub and One KM Mall, Bedok Mall is 5 mins drive away.