Colliers International has put up Fairways Condominium for sale by way of invitation to submit an offer.
The freehold property is located at 610/612 Telok Blangah Road, near the upcoming Labrador Park MRT station. With a land area of 146,532 sq ft, the site is zoned for residential use under the 2003 Master Plan with a plot ratio of 2.1.
The condominium comprises a stepped 7-, 12-, and 13- storey block with a total of 108 apartments and townhouses. Residents have a view of the Keppel Golf Course, and are near mega mall VivoCity and Sentosa.
“The buyer could enjoy a larger site by amalgamating the neighbouring state land of about 8,288 sq ft,” said Colliers International director of investment sales Ho Eng Joo.
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The site’s indicative land value is $232 million or $750 per sq ft per plot ratio inclusive of development charges and cost of state land alienation, Mr Ho said.
At press time, about 70 per cent of the owners had agreed to the en bloc sale. The call for developers to submit offers closes on March 21.
Source: Weekend Today, 03 March 2007