Owners Launched their Properties At the “Right Timing & Attractive Price”, Positive Result Might Occur
3 freehold properties which located at 2, 4 and 6 Mount Emily Road, has been put up in collective sale market again via public tender with a price tag at S$18 million.
To make the site more attractive to the buyer, the owners set the price is down to 25 per cent from the previous S$24 million guide price in their first en bloc sale attempt in June 2020.
Base on the new guide price, the new land rate will be around S$1,115 psf ppr. This is according to Edmund Tie & Company, their appointed property consultant.
The residential development site covers an area of total 5548.7 square feet with an existing gross floor area of 16,138.3 sq ft.
The freehold property for sale comprises adjoining of 3 storey residential buildings which comes with basement and attic.
According to URA Master Plan 2019, the freehold site has a plot ratio of 2.1 and is zoned primary for “residential use”.
As All owners have given consent for the collective sale, no STB approval is required.
Swee Shou Fern, the executive director of investment advisory said that the new guide price is set “favourably” so that it will draw strong interests from the developers as they are busy acquiring land.
Taken from the recent district 9 collective sales of Fairhaven & Sophia View site and Casa Sophia, which the sale price of S$1,158 and S$1,120 psf ppr respectively, the new price is set along with them so that it will be satisfy the buyer.
There will be no development charge that is payable due to high existing GFA.
Ms. Swee added that the Mount Emily Road site offers prospective buyer a great opportunity to transform this prime property into a boutique residential development for future sale of strata subdivided units.