Surrey Point Condo En Bloc Sale 2021 - Newton Road Freehold Site

Surrey Point Condo En Bloc Sale 2021 – Newton Road Freehold Site

Read the Latest News Here: Surrey Point Condo En Bloc Sold 2021

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.

Surrey Point Singapore Condo Nearby Amenities
Surrey Point Prime Site is Well Serve with Many Amenities in The Area

Surrey Point – Attractive Site in Prime District 11

Surrey Point Condo is located at 2 Surrey Road, prime district 11 within core central region of Singapore.

Away 500 metres from the freehold site is the Novena MRT station and Newton MRT Interchange which serve as convenience transportation.

The prime site is well placed within Novena medical hub and close to many landmarks such as Royal Square, Goldhill Shopping Centre, United Square, Novena Square and Courtyard by Marriott.

Schools that can be found within the area are St Joseph’s Institution Junior, St Margaret’s Primary, Singapore Chinese Girls’ School, Anglo-Chinese School (Junior) and Anglo-Chinese School (Primary).

Positive New Launch Sales Result in District 11

Low Choon Sin, one of the managing partners of SRI Capital Market, said that the new launch sales in prime District 11 and Newton area is quite positive and encouraging.

This indicate that the Newton/Novena district with its array of dining, entertainment, shopping and prominent schools is quite appealing for the home hunters.

Tony Koe, the SRI managing director added that there will be many sites that launch for collective sale in the first half of 2021 and already foreseen the revival of en bloc market as developers are looking for land acquisition.

He further said that the asking price of S$55 million for this freehold plot falls on the sweet spot and any entities that are interested in diversify into property development should consider this prime site.

The public tender for Surrey Point freehold site will remain open till February 9, 2021 at 3 pm.

Surrey Point Condo En Bloc Details

  • Status: For Sale

  • Tenure: Freehold

  • Land Size: 11,977 square feet

  • Gross Floor Area: 35,882 sq ft

  • Total Units: 9

  • Gross Plot Ratio: 2.8

  • District: 11

  • Property Address: 2 Surrey Road

  • Nearest MRT: Novena & Newton

  • Marketing Agent: SRI Capital Market

  • Reserve Price: S$55 million 

  • Tender Close: February 9, 2021

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