Green Lodge up for sale again at S$195m

Green Lodge, a residential development site at Toh Tuck Road, has been launched for sale with an indicative price of around S$195 million.

This works out to around S$866 psf ppr, with no development charge payable for proposed development of up to 1.49, said real estate adviser DTZ, the property’s sole marketing agent.

Located at Toh Tuck Road, Green Lodge has a total land area of 151,075 sq ft and can be redeveloped into a five-storey condominium under the Master Plan 2008. It is situated on elevated grounds that are surrounded by established landed housing estates, including Eng Kong Park and Toh Tuck Garden.

“This is a rarely available large freehold redevelopment site in an established residential enclave. The sizeable plot is ideal for a condominium development with full communal facilities,” said Shaun Poh, Senior Director for Investment Advisory Services and Auction at DTZ.

“Assuming an average apartment size of 1,000 sq ft each and a building efficiency of 90 percent, the site can accommodate about 210 residential units.”

The site is also accessible via major roads such as Bukit Timah Road, Old Jurong Road, Jalan Jurong Kechil, Clementi Road and Dunearn Road. It is also within a tranquil neighbourhood and near several amenities, including banks, retail outlets and eateries.

“We expect keen interest from developers who will be attracted to key attributes of the site including its close proximity to Beauty World MRT station, Pei Hwa Presbyterian Primary School as well as the amenities and conveniences readily available in the vicinity,” said Poh.

The sale is being conducted through a tender exercise which will close on 8 December 2011.

Source : PropertyGuru – 3 Nov 2011

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