Surrey Point, a freehold site in prime district 11 has launched for collective sale with an asking price set at S$55 million.
SRI Capital Market, their appointed exclusive marketing agent for this sale announced the news.
Surrey Point condo is a 10-storey residential development which consists of 9 units.
The condo sits on a small area of 11,977 square feet and has a gross plot ratio of 2.8.
Taking the asking price into account we are able to arrive at a land rate of S$1,661 psf ppr which includes a development charge.
Due to 100% owners’ consensus that has been achieved, the site doesn’t require STB (Strata Titles Board) approval.
The prime site in district 11 is marked for “residential use” and has a (GFA) gross floor area of about 35,882 sq ft which includes 7% bonus GFA for balconies.
According to SRI Capital Market, the buyer can build up 36 apartments with 85 square metres (914 sq ft) average unit size.
The site may even convert into serviced apartments or co-living apartments as other options, this is however needing approval from relevant authorities.