Homeowners are looking for the offers of more than $95 million for their 71-unit residential site.
According to ERA Realty, a marketing agent, an 11-storey tower named St Francis Court located at 90 Saint Francis Road is launch for the collective sale.
The owners have requested for offers above $95 million.
It’s a 34,111.12 sq ft site with 71-units developed on it and have a 2.8 plot ratio as per the master plan of 2014.
If redeveloped, the site could contain 100 to 120 housing units. The site is on 99 years and 73 years are left.
The top-up premium can be within the range of $9 million to $15 million and there is no pending differential premium.
Considering this fact and depending on the size of their units, the owners can expect $1 million to $1.5 million per unit in the offers.
St Francis Court is located within a precious area where popular City Square Mall and Boon Keng MRT (550m away) that very close to it.
It’s also at a short distance from the Central Business District and shopping belt on Orchard Road.
There are also some educational institutions like St Andrew’s Junior School, Bendemeer Primary School, and Hong Wen School which are just about 1km away from the development site.
Any interested developers are asked to submit their tenders for St Francis Court by the closing date of November 29.