Casa Feliz Condo Koon Seng Road Collective Sale 2023 – Freehold D15
Casa Feliz condo, at 81 Koon Seng Road in the popular District 15, has been put up for collective sale via public tender with a reserve price of S$23 million.
According to marketing firm ERA Realty Network, after taking into account the 7% bonus balcony GFA, the reserve price translates to a land rate of $1,158 psf ppr. A $1.25 million land betterment charge is anticipated to be due.
The new development may possibly produce 18 residential units with an average size of 1,076 sq ft, subject to approval by the regulatory authorities.
Casa Feliz is a freehold residential development consisting of 12 apartments, located just down the road from the vibrant Peranakan houses that have become an emblem of the Joo Chiat district.
It is situated on a 13,976 sq ft plot of land allocated for residential use under the Master Plan 2019 and has a gross plot ratio of 1.4.
As a result, the site’s maximum gross floor area (GFA) may be 19,567 sq ft.
Tay Liam Hiap, managing director of investment sales at ERA Singapore, says that this is a great opportunity for developers that are searching for high-potential redevelopment locations.
He adds that the site provides “the ideal balance of convenience and tranquility” due to its location away from the city center and its proximity to numerous amenities.
It only takes a short drive to KINEX, Parkway Parade, I12 Katong, and Paya Lebar Quarter Mall, while many of the stores and restaurants that line Joo Chiat Road are walking distance from the Casa Feliz enbloc site.
Haig Girls’ School, CHIJ (Katong) Primary, Tao Nan School, and Tanjong Katong Primary are among the educational institutions within a one-kilometer radius. St. Stephen’s School, Kong Hwa School, Maha Bodhi School, and Ngee Ann Primary School are all in the area.
If the collective sale is successful, each Casa Feliz unit owner would earn gross sale proceeds ranging from $1.85 million to $2.01 million, according to ERA.
The Casa Feliz bid deadline is June 22 at 3 p.m.