A prime leasehold site next to Kent Ridge Park is up for sale by tender with a reserve price of S$323 million.
The site, Vista Park at 50-66 South Buona Vista Road, has a potential gross floor area (GFA) of approximately 446,947 square feet.
Based on the reserve price, the land price works out to be about S$824 per square foot (psf) per plot ratio (ppr), inclusive of a lease top-up of approximately S$45.3 million.
The break even cost is expected to be S$1,250 psf.
Vista Park is approximately 319,248 sq ft in size and currently comprises 209 residential apartments and townhouses.
Knight Frank, the sole marketing agent, will close the tender on 7 December.
Source : Channel NewsAsia – 9 Nov 2011
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