Haig Mansions goes on sale

Haig Mansions, a 16-unit apartment block on Haig Road, has been put up for sale with an asking price of S$21 million, or about S$746 psf ppr.

The freehold development site has a land area of 20,226 sq ft, with a gross plot ratio of 1.4 and an allowable height of up to five storeys.

Based on the total gross floor area (GFA) of 28,317 sq ft, the property can yield up to 45 apartment units with an average size of 600 sq ft. The breakeven price is expected to be around S$1,150 psf.

Credo Real Estate, which is marketing the property, said that more than 80 percent of the owners have agreed to the collective sale of the property.

Zoned for residential development, the site is located near Paya Lebar Central, which is expected to be developed into a commercial hub with offices, retail, hotel and public spaces.

Credo said the tender for the site will close on 11 May.

Source : PropertyGuru – 5 Apr 2011

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