Surrey Point Condo En Bloc Sold – 2nd Successful Sale 2021

Surrey Point Condo SOLD En Bloc for S$47.8 million

The 2nd Site That Sold En Bloc in 2021 After Mount Emily Road Site Was Picked Up

The land acquisition fever in Singapore continues as Surrey Point, a prime freehold site sold en bloc for S$47.8 million in a private treaty sale.

The site was acquired by ASK Development, which is a joint venture company composed of Creative Investments, Kay Lim Realty and Santarli Capital Venture.

The owners were the first to launch for collective sale in 2021 January with a reserve price set at S$55m, the tender closed on February 9.

During the private treaty sale period, after negotiation the sale was sealed at S$47.8 million.

Creative Investments is the wholly-owned subsidiary of Amara Holdings which hold the largest share of 40% and Santarli Capital Venture and Kay Lim Realty each owned 30% respectively.

On March 4 2021, ASK Development was incorporated and following its incorporation they have entered into a sale agreement to acquire Surrey Point site for $47.8 million.

According to the company, the land acquisition is “in the ordinary course” of Amara’s sector and will be financed with internal funds.

Surrey Point condo is one of the en bloc sites that was successfully sold in 2021, together with Mount Emily Road combine site.

More collective sites are expected to enter developers land bank as developer’s appetite for land continue particularly in the prime zone of Singapore.

Surrey Point Freehold Site Information

The prime site of Surrey Point condominium is located at district 11 within Core Central Region (CCR), one of the popular home hunting zones of Singapore.

The good location of the site definitely caught the eyes of the buyer as it has strong attributes with array of amenities surround the site.

The condo is easily accessible from Newton MRT Interchange and Novena MRT that is only short distance away.

Additionally, it is within the Novena medical hub, short drive to Orchard Road and close to malls like Novena Square, United Square, Goldhill Shopping Centre and much more…

The enbloc site is also close to some good schools in the vicinity, schools that close to the redevelopment site are Singapore Chinese Girls’ School, Anglo-Chinese School (Primary & Junior), St Margaret’s Primary and St Joseph’s Institution Junior.

Surrey Point site is zoned for “residential use” and has a gross plot ratio of 2.8.

It sits on an area of 11,977 sq ft with a gross floor area (GFA) of about 35,882 sq ft (7% bonus GFA for balconies included).

As all owners have agreed to this collective sale, apply for sale order is not necessary.

Due to central zone, the site can redevelop into a new 36 units residential development, with average unit size of 85 square metres.

The new launch project will be much appeal to any home buyers in this Novena/Newton popular district with its wide array of shopping, entertainment, dining and prominent education institutions.

Surrey Point Condo En Bloc Details

Surrey Point Condo En Bloc Sold in 2021 Pinterest
  • Status: SOLD

  • Tenure: Freehold

  • Land Size: 11,977 square feet

  • Plot Ratio: 2.8

  • Gross Floor Area: 35,882 sq ft

  • Total Units: 9

  • Property Address: 2 Surrey Road

  • District: 11

  • Nearest MRT: Novena & Newton

  • Marketing Agent: SRI Capital Market

  • Reserve Price: S$55 million

  • Sale Price: S$47.8 million

  • Buyer: ASK Development

  • Date of Sale: March 2021

  • New Development: TBA

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