Windy Heights is a 200-unit condominium within Geylang East, popularly referred to as Eunos, and its owners want to sell it collectively at a minimum, S$806.2m.
The public tender, which has already been launched, is set to close early afternoon on April 18, 2018. The property owners are banking on the massive size of the site, among other factors, to attract buyers.
The 4-block Windy Heights condo, which is situated at 80 Jalan Daud near East Shore Hospital, sits on an area 250,702 sq ft, and according to Knight Frank, the property marketing agent, the site has potential to hold up to 581 apartments of average size, 1,076 sq ft.
His assessment is based on the current gross floor area (GFA), which is 625,929 sq ft.
According to the 2014 Master Plan, the allowed gross plot ratio for this site that has already been zoned residential is 2.1.
As for the land rate, Knight Frank explains, the property asking price and the GFA puts it at S$1,288 psf ppr, but once the 10% balcony bonus is included, the rate drops to S$1,171 psf ppr.
Besides the anticipation that the high-storey buildings will provide a clear view of shorter landed residential units, the availability of Windy Heights in the market is bound to satisfy a need in the areas of Kembangan and Bedok in District 14 and 16, which do not seem to have other sites set to sell in the near future, either singularly or collectively.
This was explained by Knight Frank Singapore’s executive director, Ian Loh. Knight Frank is one of the En Bloc Specialist in Singapore.
Windy Heights is also easily accessible from the Central Business District, Changi International Airport, Changi Business Park and Vibrant Paya Lebar Business Hub.
And within a distance of around one kilometre are three MRTs, Kembangan, Kaki Bukit and Eunos.
Beside it is near to Bedok Reservoir, one of the most beloved leisure park in Singapore.
In addition, the successful developer is not expected to incur any development charge owing to the already existing high development baseline, and the fact that the site ownership is freehold makes it all the more desirable.