The Kovan Lodge on Kovan Road was put up on 21st December for collective sale through tender with an asking price set at $43 million translating to $1,134 psf ppr.
Huttons Asia, who are the marketing agents for the property, stated that no development charges would be payable by the winning developer.
Kovan Lodge is a freehold site developed in 1996 by Goodyield Properties Pte Ltd. And is comprised of 16 units in 4 floors and its neighbours are Kovan Esquire and Kovan Crest among others.
It has all facilities for a condo including 24 hours security and car parking. From Kovan Lodge, the business hub is about 15 minutes drive when you take the Upper Serangoon road. Similarly, an array of other amenities are also close to the condo including supermarkets, retail outlets, eating establishments, restaurants, entertainment and banking facilities.
Educational institutions in the vicinity of the condo include the Serangoon Junior College and Paya Lebar Methodist Girls School. The Serangoon Swimming Complex and Serangoon Stadium are also only a short drive from the condo.
The Heartland Mall and Kovan MRT station are within a radius of 600m from the Condo. The site sits on 27,091 sq ft. The total area comprised in 4 floors of the present development has 30,440 square feet as the total strata area.
The site enjoys residential zoning under Master Plan 2014 and its gross plot ratio is 1.4. This would allow 35 apartments with a gross floor area of 37,927 sq ft with each apartment having an average area of 1,080 sq ft.
The tender for Kovan Lodge closes on Jan 18, 2018