Hong Heng Mansions En Bloc Sale 2023 – Freehold D26
According to marketing agency ERA Property Network, Hong Heng Mansions was put up for collective sale by tender on Wednesday (Feb. 22) with a S$133 million reserve price.
This indicates that the land price, without the land betterment fee, is about S$1,208 per square foot per plot ratio.
The District 26 freehold development was constructed in the 1990s. It has 41 residential apartments and 17 commercial units.
According to the Urban Redevelopment Authority’s 2019 Master Plan, it is situated on 78,644 square feet of land (sq ft). The gross plot ratio is 1.4, and it is designated for mixed use.
Subject to clearance from the appropriate authorities, the land may also be rebuilt up to a gross floor area (GFA) of roughly 110,102 square feet, according to ERA. This corresponds to a plot ratio of 1.4.
ERA representatives Allen Loo, division director, and Jeremy Rikas Chiu, group division director, expect that the freehold site will attract investors because of its potential to be transformed into a brand-new mixed-use development.
They continue: “Because of its desirable location and competitive reserve price, this unique property in the Sembawang Road region is likely to elicit substantial interest from local and international developers.”
Hong Heng Mansions Nearby Amenities
The Springleaf landed housing estate and Springleaf Nature Park are close to the residential development.
Lifestyle facilities in the area include Thomson Plaza, Sun Plaza, Canberra Plaza, Wisteria Mall, Orchid Country Club, and Sembawang Shopping Centre.
Around 500 meters away from Hong Heng Mansions enbloc site lies Springleaf MRT Station on the Thomson-East Coast Line.
Within 2 kilometers of the location is Peiying Primary, and other schools include North View Primary, Naval Base Secondary, Orchid Park Secondary, and Chung Cheng High School (Yishun).
The bid deadline for the Hong Heng Mansions site is April 18 at 2:00 PM.