Property consultancy Credo Real Estate has launched the tender for a joint sale of the 15-unit Robin Court and an adjoining bungalow at Robin Drive, off Bukit Timah Road.
The joint sellers are expecting offers in the region of S$66 million to S$74 million.
That works out to around $1,046-$1,172 per square foot on potential gross floor area.
Under the 2008 Master Plan, the site is zoned for residential development up to a gross plot ratio of 1.4 and an allowable height of up to 5 storeys.
Subject to relevant authorities’ approval, there is also a potential to purchase about 785 square feet of state land adjoining Robin Court to enlarge the site to over 41,000 square feet.
Credo’s Managing Director Karamjit Singh said the District 10 site is likely to be ‘hot’.
It is located less than 200 metres from the upcoming Stevens MRT station, which is part of the Downtown line, and expected to be operational in 2015.
The tender for the two properties closes on September 16.
Source : Channel NewsAsia – 17 Aug 2010