Freehold property at Toh Tuck Road up for collective sale

Green Lodge, a freehold property at Toh Tuck Road, has been put up for collective sale with an indicative price of S$195 million.

Property consulting firm DTZ Debenham Tie Leung (SEA) is conducting the tender exercise for the sale, which will close on May 15 at 3pm.

Green Lodge can be developed into a five-storey condominium development at a gross plot ratio of 1.4. It sits on a land area of about 14,035.3 sq m (151,075 sq ft).

Based on the indicative price, DTZ said the land price translates to S$846 per square foot per plot ratio, inclusive of about 8.9 per cent balcony space for which Development Charge is not payable.

“The property would draw keen interest from developers looking to build a condominium development with full communal facilities in an established residential enclave,” said Shaun Poh, DTZ’s senior director for Investment Advisory Services and Auction.

DTZ said the property is located near the upcoming Beauty World MRT Station on the Downtown Line which will be operational in 2015.

Source : Channel NewsAsia – 19 Apr 2012

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