Sophia Mansions up for collective sale

Sophia Mansions, a freehold development located along Adis Road (District 9), has been launched for sale by tender.

The 19-unit, 20-year-old residential development sits on a freehold site with a
The land area is approximately 17,545 square feet (sq ft).

The marketing agent, Credo Real Estate said the owners are expecting offers in the region of S$42.5 million to S$45 million.

This works out to land rates of approximately S$1,160 to S$1,228 per square foot per plot ratio at a gross plot ratio of 2.1. This is inclusive of development charge.

The 20-year-old residential development sits on a high ground can be redeveloped into a new boutique development of up to six-storey high with the option of a basement car park.

The potential gross floor area of about 36,840 sq ft may accommodate some 35 apartments with an average size of 1,000 sq ft.

Credo’s executive director Ms Yong Choon Fah said: “New launches in this area generally see a strong take up rate due to its strategic locality and proximity to Orchard Road and the Central Business District area.”

She added that new developments in the area such as “Parc Sophia is fully sold and Sophia Residence which is just down the road is 99 per cent sold.”

If successful, owners of the 19-unit Sophia Mansions are expected to receive an average of S$1.92-2.03 million for two-bedroom apartment, and an average of S$2.56-2.71 million each for three-bedroom apartments.

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