Owners at Bartley Terrace are set to receive $1.14 million to $1.8 million each after the collective sale of the 32-unit property closed on Jan 17.
Meadows Investment is paying $40 million for the site near the Bartley MRT Station, said Urban Front Real Estate, which brokered the deal.
It said the price translates to about $760 per square foot per plot ratio, after factoring in the development charge with 10-per-cent balcony space that the developer might have to pay for.
Bartley Terrace has a land area of about 40,482 sq ft and is designated for residential use with a plot ratio of 1.4.
Majority owners are applying to the Strata Titles Board for a sale order, Urban Front said.
Source : Today – 28 Jan 2011