Two properties, Ying Mansions at 25 Robin Road and Villa D’Este on Dalvey Road, are up for sale, marketing agent CBRE said yesterday.
Ying Mansions is an 8-unit development with a gross floor area of 55,000 square feet. The site has a plot ratio of 2.1 and can be built up to 24 storeys. CBRE said the property was expected to fetch $70 million.
It said Ying Mansions would attract developers looking for a site within District 10 and near to Orchard Road and the Central Business District.
CBRE said all eight units are owned by a single owner and the sale is not subject to Strata Titles Board approval. The tender for Ying Mansions closes on Feb 23.
Meanwhile, Villa D’Este, a 12 unit project with a gross floor area of 49,000 square feet, is approved for development of Good Class Bungalows. The property has a reserve price of $110.6 million.
CBRE said “there was keen interest from several developers” when this site was first up for tender in August last year, and with the luxury market having improved since last year, interest is expected to be “very strong”.
The tender for Villa D’Este closes on Feb 15.
Source : Today – 18 Jan 2011