A freehold residential site at 28 Lim Tua Tow Road is up for sale. The 28,676 square feet site presently accommodates three single-storey houses.
Based on the Master Plan 2008, it can be re-developed into a five-storey development comprising about 43 apartments averaging 850 square feet each.
Savills Singapore, which is handling the sale, said that the sale of this site is expected to be carried out “expediently” as it is family-owned unlike a collective sale, which can be more complicated.
Savills said it expects keen interest for the site due to the strong participation from developers in the recent Government Land Sales in District 19.
The rectangular site, off Upper Serangoon Road, is accessible via the Serangoon MRT Station and Bus Interchange.
Residents can enjoy facilities such as Nex, the new mega shopping mall and the upcoming Space @ Kovan, with the Sports Stadium and Swimming Complex just minutes away.
The owners are looking at an indicative price of S$26 million.
This translates to about S$797 dollars per square foot per plot ratio, which includes an estimated development charge of about S$6 million.
The tender closes at 3pm on April 28.
Source : Channel NewsAsia – 4 Apr 2011