Sixth Avenue Centre is another District 10 new launch freehold site up for grab, in the hottest zone Singapore. There are already 5 en bloc properties sold last year in 2017. Wilshire Condo is another freehold property up for collective sale.
More and more potential sites will be launch in this area.
Sixth Avenue Centre, which stands as a freehold mixed-use property in Bukit Timah road. With its collective sale already put, it has a price guide of $90.5 million which translate to S$2,022 psf ppr that includes a development charge of $526,000.
This freehold property was completed in the 1980s, occupying 15,009 square feet of land comprise of 7 retail shops and 18 residential units. As a development property, it is zoned for both residential and commercial use with gross plot ratio of 3.0, developable to five storeys, with a gross 4,183.2 sq. ft. of floor area.
With approvals from the relevant authorities, the site can be developed to hold retail component and 35 apartments of an average land area of 753 sq. ft., sitting on 18,011 and 27,017 sq. ft. on gross floor respectively.
According to Savills Singapore senior director, Ms Suzie Mok, Sixth Avenue Centre presents the perfect opportunity for developers to secure boutique size spaces with retail development opportunities in commercial cluster.
Suzie believes that competition is highly anticipated as Sixth Avenue Centre presents an opportunity like no other in the locale, with the sale expected to close at 3 pm 31st January 2018.