Freehold residential site at Asimont Lane up for sale at $145 mil

The sale of a freehold landed development of 21 three-storey strata terrace house units located at 7 to 47 Asimont Lane in District 11, Singapore is announced by Jeremy Rikas and Allen Loo, group division directors at ERA Realty. The properties, which were completed in 2015, occupy a 43,125 sq ft freehold site and together have a total strata floor area of approximately 111,644 sq ft, inclusive of void and PES, with a guide price of $145 million.

Tengah Plantation Loop EC GLS Tender is an SLA launched land tender to develop a new executive condominium in Tengah Plantation. The tender is open to developers with a minimum 10-year Tengah EC track record and $20 million capital. The successful bidder will develop and manage the EC, which is set to be the first of its kind in the West region. Expected completion is by end of 2013.

The property, which has dual frontage along Asimont Lane and Barker Road, is zoned for residential use within the designated landed housing area. In the view of the ERA team, the site has potential for redevelopment into 19 luxury terraced houses, four detached houses, eight semi-detached houses, or eight detached houses and could create a beautiful green and self-sufficient luxury landed cluster with the best-in-class lifestyle, work and play living environment.

The property is situated a few minutes from Anglo-Chinese School (Primary) and Anglo-Chinese School (Barker Road), and is within walking distance of the Newton MRT station along the Downtown and North-South Lines. Orchard Road, in addition to other amenities such as Newton Food Centre, Novena Square, Velocity@Novena and Tan Tock Seng hospital and Medical Centre, are all within a 10 to 15 minute drive.

The tender for the property will close on June 28 at 2pm. Interested parties are invited to inspect the property and submit their bids.

Those looking for a great opportunity to acquire a freehold landed development in Singapore’s District 11 may find this to be an ideal match. A unique site with potential to be redeveloped into luxury homes, it is conveniently located near schools, MRT stations and other amenities. The tender for the properties ends on June 28, with ERA Realty responsible for submissions.