Tender for collective sale of Dragon Mansion launched

The tender for the collective sale of Dragon Mansion has been launched, the first such sale this year.

The property is located at 18 Spottiswoode Park Road.

In a statement, CKS Property Consultants said it has obtained consent from more than 80 per cent of the owners to proceed with the sale.

The collective sale is expected to achieve in excess of S$120 million or S$1,020 per square foot per plot ratio. This includes the development charge of about S$400,000.

The redevelopment site has a land area of about 42,000 square feet and it is designated for residential use with a plot ratio of 2.8.

CKS Property Consultants said the new development could potentially build up to 36 storeys, accommodating some 120 units of 1,000-square foot apartments.

The tender will close on August 11 at 3pm.

Source : Channel NewsAsia – 14 Jul 2009

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