Ultra Mansion up for en-bloc sale

Ultra Mansion at Derbyshire Road will be put up for collective en-bloc sale on February 16.

Spanning over 45,500 square feet, the freehold site is located in one of the prime districts in Singapore at the Novena area.

Its marketing agent Cushman & Wakefield told MediaCorp that the site is expected to fetch over S$170 million, with very minimal development charges payable.

It adds that based on a maximum permissible plot ratio of 2.8, the price works out to be S$1,334 per plot ratio or S$1,270 per plot ratio if the balcony is included.

Cushman & Wakefield said developers can potentially build a high-rise residential development with a gross floor area of some 140,000 square feet.

The tender exercise closes on March 22, 2012.

Source : Channel NewsAsia – 15 Feb 2012

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