Sutton Place, a freehold residential development off Farrer road is up for collective sale, announced by Knight Frank Singapore.
The freehold property is up for grab for S$268 million as reserve price.
The residential site has a 1.6 plot ratio and does not require a pre-application feasibility study.
According to Knight Frank, the property’s marketing agent, based on the reserve price, the land rate is roughly S$1,917 psf ppr which includes an S$17.88 million development charge.
The sale is by public tender where the five storey development site waits for potential buyer.
As it stands, Sutton place has 44 apartments and has a land size of approximately 93,185 sq ft.
Upon consent by the Urban Redevelopment Authority, it will comprise of 198 apartment units each measuring 753 sq ft.
Beside Sutton Place is the neighbour The Wilshire, which sold en bloc for S$98.8 million this year January 2018.
Across Farrer road is Tulip Garden, the freehold site sold en bloc to Yanlord Land Group and MCL Land for S$906.9 million, became one of the highest collective sale in Singapore.
Sutton Place is an attractive residential site that is accessible through major expressways, train station and with plenty of popular attractions laying around.
It sits 500 meters close to Farrer Road MRT which also links the property to other parts of Singapore.
The freehold site is also served by the Pan-Island expressway as well as the Ayer Rajah Expressway.
Besides being close to public transport, the Condominium also sits close to parks like Wollaton park, Cornwall gardens, Leedon park as well as the popular national orchids garden.
Gleneagles hospital is also a mins drive away from the development site.
In terms of schools and shopping centers, Sutton place is a short drive from Hwa Chong Institution off Bukit Timah.
It is also near Nanyang primary school and St. Margaret’s secondary school. Furthermore, the area is served by Anchor point shopping center, Tanglin mall, Holland Village Shopping Centre, Balmoral Plaza and Tanglin shopping center.
The freehold property is short drive to popular destination Holland Village and Orchard road shopping paradise.
The tender for Sutton place closes at 3 pm on 6th September.