A freehold residential site at Hillview Terrace has been placed for sale by tender.
Its marketing agent, DTZ, said owners of the properties there have agreed to put up their units for collective sale.
The Hillview Terrace plot comprises even numbered units of between 12 and 24.
The site occupies a land area of some 49,164 square feet (4,567.5 square metres) and it can be developed into a 10-storey condominium with a gross plot ratio of 1.92.
This translates into total gross floor area of approximately 103,835 square feet, including an additional 10 per cent balcony area. DTZ said that is equivalent to about 100 apartments with an average size of 900 square feet.
The tender exercise for the site will close at 3pm on June 22.
DTZ expects the property to attract developers keen to develop a boutique condominium project.
Meanwhile, DTZ said freehold residential land of this size is hard to come by in popular residential areas.
Nearby amenities like West Mall and Bukit Timah Shopping Centre will also add to the site’s appeal.
The area will be served by Bukit Batok and Bukit Gombak MRT stations as well as the Hillview and Beauty World MRT stations, which are slated to open in 2015.
Source : Channel NewsAsia – 17 May 2010