East Court Koon Seng Condo Launch for En Bloc Sale

//East Court Koon Seng Condo Launch for En Bloc Sale
East Court Koon Seng Condo Launches for En Bloc Sale at $19m

East Court Koon Seng Condo Launches for En Bloc Sale at $19m

East Court, the eight-apartment residential property located in District 15’s Koon Seng Road was launched for collective sale on 10th September with reserve price of $19 million.

This was revealed by OrangeTee & Tie the marketing agent for the collective sale.

As per the reserve price the land rates translate to $1,028 psf ppr which is inclusive of the development charges. The freehold property was built back in 1986 and occupies 13,351 sq ft estate.

This has been zoned for residential use as per the 2014 Master Pan and has 1.4 gross plot ratio.

The property is primly located close to the upcoming Marine Parade and Eunos MRT stations. There are several educational institutions in the vicinity including Tanjong Katong’s Canadian International School, Etonhouse International School, Haig Girls’ School, Chatsworth International School Tanjong Katong Primary School and the Tao Nan School.

The freehold site is also short drive to upcoming Paya Lebar Central (PLC). It will become a bustling commercial centre which might attract buyer to this site.

A spokesperson for OrangeTee & Tie said that all the owners in the condo have given their 100 % consent for the en bloc sale and developer that picks up this property shall have immediate rights to redevelopment considering the fact that no approval needs to be obtained from Strata Titles Board.

East Court’s tender shall close on 26th of October.

For the last 3 months, district 15 has witnessed 3 En Bloc Sale. Pomex Court was picked up in June by K16 Development for S$37.6 million.

While Casa Meyfort at Meyer Road sold en bloc to GuocoLand at $319.88 million in July. Quek Hock Seng Construction acquired 3 Telok Kurau Bungalows at a price of $37.89 million.

 East Court En Bloc Details

Marketing Agent: OrangeTee & Tie

Tenure: Freehold

Status: For Sale

Reserve Price: S$19 million

Tender Close: Oct 26

Land Size Sq.Ft.: 13,351 

Total Units: 8

Plot Ratio: 1.4

Prime Zone: District 15

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City Gate Singapore
2018-09-12T08:42:47+00:00September 12th, 2018|2018|