Another group of owners in Singapore is hoping to cash in on the current red-hot property by launching an en bloc sale.
Toh Tuck Apartment, located off Upper Bukit Timah Road, has been put up for sale by tender.
The asking price is around S$35.5 million.
The freehold residential site comprises 13 apartment units with sizes averaging 223 square metres.
Each owner is expected to get an average S$2.73 million for their units.
That translates to S$650 per square foot per plot ratio.
The site, spanning 40,449 square feet, has a permissible plot ratio of 1.4 and can be built up to five storeys.
Marketing agent HSR International said the site can be redeveloped into 75 apartment units
It added that the site has achieved 100 per cent consensus from the owners
Tender for the sale closes on April 23.
Source : Channel NewsAsia – 7 Apr 2010