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Advance Apartment, a freehold residential site in Geylang district 14 is up for en bloc sale and available by tender.
This was announced by JLL Singapore, the sole and appointed marketing agent of this collective sale.
More than 80% of the owners have given their consent and expected incoming bids not less than S$26.5 million which is the reserve price.
Base on the amount, the land rate works out to around S$877 psf ppr and if 7% bonus balcony gross floor area (GFA) is taken account, it will arrive to S$861 psf ppr and there is an estimated development charge amount of S$3 million.
The Freehold residential site was completed in 1989 and is a 8-storey building which is built on a regular-shaped plot. It houses 14 residential units.
It has a gross plot ratio of 2.8 and occupy an area of 11,429 square feet. According to URA Master Plan 2019, the site is zoned for institutional and residential use and maximum height allowable is 8-storey.