Three landed properties up for tender at Amber Rd

Three plots of adjoining freehold land approximately 28,400 square feet (sq ft) at Amber Road in the East Coast area have been put up for sale by tender.

Marketing agent Credo Real Estate said the three landed properties are owned by separate owners. They have consented to sell collectively in a joint tender exercise.

The sellers are expecting offers in the region of S$73 million to S$80 million.

This works to a land rate of about S$1,243 to S$1,318 per square foot per plot ratio (psf ppr) for redevelopment up to a gross plot ratio of 2.8, factoring an estimated development charge of around S$25 million.

The potential gross floor area of about 79,500 sq ft may accommodate some 75 apartments with an average size of 1,000 sq ft.

Yong Choon Fah, Credo’s executive director said the “entire plot may be redeveloped into a high-rise residential development of over 20 storeys with partial sea views”.

“These three plots at Amber Road are the last standing landed properties in the area, which is a well-known address for high-rise condominiums that have command views of the sea.”

Ms Yong added: “District 15 has always been a traditional favourite amongst both foreign and local homebuyers due to its proximity to the airport, East Coast Park, reputable schools and established amenities at Parkway Parade and East Coast Road.”

The tender closes at 2.30pm on June 22.

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