Watten Estate Condominium for collective sale with a minimum price of $ 500 million, Property News & Top Stories

SINGAPORE (THE BUSINESS TIMES) – The Watten Estate condominium at Shelford Road has been put up for collective sale by tender with a minimum price of $ 500 million, said marketing agent JLL.

With an area of ​​220,241 square feet, the freehold elevated site is zoned residential with a gross land ratio of 1.4 and a permitted height of up to five stories. At minimum price, this comes to around $ 1,622 per square foot per plot (ppr psf), or $ 1,570 psf ppr after factoring in an additional 8% gross floor area and development costs. correspondents.

The property comprises 104 units of townhouses and apartments built around 1983. According to JLL, it can be redeveloped into 286 units based on the mandatory minimum average size of 100 m².

The condominium is approximately 650 meters from Tan Kah Kee MRT station. Nearby are Coronation Shopping Plaza, King’s Arcade Shopping Center, Crown Center, Serene Center, Cluny Court and Adam Road Food Center.

JLL Executive Director Tan Hong Boon said, “With sales of new developments in the Bukit Timah district increasing to new levels, stiff competition from developers to bid well above the minimum price. owners is expected. “

The call for tenders will close on October 27 at 3 p.m.

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