Harbour View Gardens put up for collective sale

Harbour View Gardens, a freehold residential site in Pasir Panjang, has been put up for collective sale.

Its marketing agent Colliers International said indicative price for the site is between S$36 million and S$38 million, which works out to be between S$836 and S$883 per square foot per plot ratio.

Harbour View Gardens comprises a total of 14 units and is located on a site measuring about 30,745 square feet.

Colliers said there are seven maisonettes with an average floor area of 2,411 sq ft each and seven walk-up apartments with an average floor area of 1,195 sq ft each.

Upon success of the collective sale, each owner could receive between S$1.6 million and S$3.6 million, according to Colliers.

Under the 2008 Master Plan, the subject site is zoned for “Residential” use, with a gross plot ratio of 1.4, with an allowable building height of up to five storeys.

Colliers added that subject to approval from relevant authorities, the successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775 sq ft each.

The tender will close on May 16, 2012, at 12.00 pm.

Source : Channel NewsAsia – 17 Apr 2012

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