Roselane Court En Bloc Sale 2023

With a reserve price of $23 million, Roselane Court, a freehold development located along Rose Lane off Tanjong Katong Road in District 15, has been put up for collective sale by tender.

According to Knight Frank, their appointed marketing agent, the reserve price corresponds to a land rate of around $1,375 psf ppr after accounting for a small land betterment charge.

Seven apartments make up Roselane Court, which was constructed in 2002. The freehold plot has a gross plot ratio of 1.4 and is situated on 12,054 square feet of land that is designated for residential use.

Depending on the architecture and design as well as clearance from the appropriate authorities, a new development on the site might include around 18 units with an average size of 85 sqm (915 sq ft).

According to Knight Frank, owners of Roselane Court’s apartments, which vary in size from 624 to 1,851 square feet, stand to collect a minimum sale proceeds of between $1.9 million and S$4 million from the development’s successful sale.

The Dakota MRT Station is a 10-minute walk from Roselane Court en bloc site. Schools including Tanjong Katong Primary, Kong Hwa School, and Haig Girls’ School are located within a 1-kilometer radius.

The location of Roselane Court, according to Knight Frank’s head of capital markets (land and collective sales), Chia Mein Mein, “is currently attracting developers’ attention” given recent profitable transactions on Singapore’s east side, specifically the collective sales of Bagnall Court and Meyer Park.

Chia said there is “strong market demand” for new luxury homes in the eastern region of Singapore (especially district 15) after noting that other new freehold residential projects close to Roselane Court had sold at good profit margins with “healthy” take-up rates.

“We expect considerable interest from developers and investors for this tender,” she said. “Given the rising momentum in the east, along with Roselane Court’s desired qualities such as its boutique size and reasonable price quantum.

The public tender for the Roselane Court site will close at 3 p.m. on April 5, 2023.