Vista Park up for sale by tender

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