Parkway View up for sale with S$81m price tag

Jones Lang LaSalle (JLL) has launched the collective sale of Parkway View, a prime residential development site along Marine Parade Road, at an indicative price of S$81 million.

This works out to around S$1,360 psf ppr, with no development charge (DC) payable.

Enjoying prominent frontage along Marine Parade Road, Parkway View comprises 26 residential units in a 15-storey tower, with sizes ranging from 129 sq m to 332 sq m per unit. The site is served by major arterial roads and has convenient linkage to other parts of the island through the East Coast Park Expressway (ECP).

It is a 15-minute drive from Changi Airport, the CBD and the Orchard Road shopping belt, is adjacent to Marine Parade Centre and Parkway Parade and is close to the upcoming 112 Katong.

“The subject site offers the potential buyer a great opportunity to acquire a bite-sized freehold land in a prime residential location,” said Stella Hoh, National Director and Head of Investments at JLL, the sole marketing agent.

“Given the ease of accessibility to amenities, close proximity to town, Changi Airport and renowned schools, the site would be able to capture a huge and varied target market. The site is anticipated to generate good response due to the upcoming Eastern Region Line,” she added.

JLL noted that the potential floor area of up to 59,568 sq ft, inclusive of 10 percent for a balcony, can potentially yield around 125 apartments at an average size of 450 sq ft.
The tender for the site will close on 27 October 2011.

Source : PropertyGuru – 22 Sep 2011

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