Freehold residential site in Pasir Panjang up for sale at $18 mil

“The property has the possible to be redeveloped right into either a shop domestic growth consisting of 21 systems with a typical size of 1,076 sq ft, or landed houses such as cottages, semi-detached or balcony homes, based on authorization from the appropriate authorities,” says Chia. She includes that the website would interest large multi-generational or relations wanting to construct a brand-new home.

Taking ideas from nature, Tengah EC will use its locals an eco-friendly way of life. The community is expected to be the leader in nature-themed city living. It will apply the Smart HDB Town Framework to aid locals accomplish sustainable growth. The framework encompasses 4 vital dimensions – Smart Planning, Smart Environment, Smart Estate, and Smart Living. The community will certainly be geared up with Smart Living attributes like automated waste collection as well as wise power monitoring. It will certainly also include Smart Homes flawlessly integrated with the environment-friendly theme.

Tengah EC

Located near a future MRT station, Tengah EC will certainly have a walkable community centre and abundant green room. It will certainly likewise have a central cooling system to minimize the carbon impact of the development. There will certainly likewise be a lot of wise functions such as bicycle lanes and also a committed EV charging station.

When totally established, Car Lite Tengah will house around 42,000 new homes. Upon conclusion, this HDB town will certainly be the first car-free community in Singapore.

The advancement also incorporates numerous environment-friendly functions, including solar roof panels and also green roofings. It will also feature a hawker centre, sports centers, as well as medical care centers.

Gloria Mansion, a 12-storey estate residential advancement comprising 31 houses, was sold en bloc for $70.3 million to Fraxtor Capital as well as a team led by the family members workplaces of Daniel Teo and also Teo Teck Weng in January. Flynn Park, a 72-unit estate condominium, was sold en bloc for $371 million ($1,355 psf ppr) to a joint venture in between Hoi Hup Realty as well as Sunway Developments in September 2021.

The residential or commercial property’s lawful title is held by a single family members, which Chia says, will quicken the sale process compared to “the unpredictabilities of a cumulative sale”. She anticipates keen interest in the tender given the site’s tasty price quantum, rapid turn-around time as well as strategic location.
The guide cost is around $1,099 psf based on the land area. For a suggested redevelopment of the website up to the gross plot ratio of 1.4, the land price works out to approximately $1,308 psf per story proportion, including the land betterment fee, says Knight Frank Singapore.
The residential or commercial property has to do with 500m away from the Haw Par Villa MRT Station on the Circle Line. It is also within 2km of the National University of Singapore as well as National University Hospital.

Mary Sai, Knight Frank Singapore’s executive supervisor, resources markets, claims the sale of nearby growths Gloria Mansion and Flynn Park in the past months has stimulated rate of interest in the location. “With the Greater Southern Waterfront change plan on the horizon, this listing is an amazing possibility for capitalists and home owners,” she adds.

Zoned for property use under the URA 2019 Master Plan, the site has a gross story proportion of 1.4, which translates to an optimum gross floor area of nearly 23,000 sq ft. It has a broad 43m frontage along Pasir Panjang Road.

An estate household website on Pasir Panjang Road is up for sale by tender with a measure rate “over of $18 million”, states marketing representative Knight Frank Singapore.

Chia Mein Mein, head of capital markets (land as well as cumulative sale) at Knight Frank Singapore, notes that the 16,379 sq ft site, which currently houses a single-storey cottage with several privies, is ideal for redevelopment.