Green Court condo, a freehold property along Geylang Road, has relaunch for collective sale, this was announced and according to Knight Frank Singapore their marketing agent.
Earlier in January this year 2020, the freehold site was launched for sale but didn’t attract any bidders.
The reserve price is the same set at S$28 million by the owners and they are expecting more than that.
To maximise the gross floor area, there is an additional development charge (DC) of about S$5.24 million and base on the indicated price, the land rate arrived at S$1,178 psf ppr.
The freehold site is a mixed-use development (commercial and residential) comprises of 6 two-storey apartments on the 2nd floor and 3 commercial units that anchored at the ground floor.
The site occupies a land area of 9,628 square feet or 894.5 square metres and is zoned for “commercial” with high GPR of 3.0, as for “Residential” the GPR is 2.8. It is according to URA Master Plan 2019.
Knight Frank Singapore, the hired agent for the sale said that the freehold site has allowable redevelopment potential of up to a maximum permissible Gross Floor Area (GFA) of about 28,216 square feet.