Verdun House, a commercial site with a reserve price of S$55 million, has been put up in the collective sale market via tender on Wednesday.
The news was announced by Delasa, their marketing agent and according to them, this is the owners second attempt at en bloc sale.
They also mention that 93% of the strata-titled unit’s owners have consented to the sale.
Base on the reserve price and potential commercial (GFA) gross floor space of 30,727 sq ft, the land rate will be around S$1,790 per square foot.
The owners first launched their tender was back in March 2018, their asking price was set at S$60 million but with no success.
With improved market conditions and right timing, they try their luck again this year.
The four-story freehold development is located on the intersection of Sam Leong Road and Verdun Road around 370 meters away from the Farrer Park MRT station.
The land which is zoned for commercial, spans 7,300 square feet (sq ft) with a gross plot ratio of 4.2 and a maximum permissible height of six storeys.
Currently on the ground level of the commercial building, there are 2 eateries and 2 shops while apartments occupy at the upper levels.