Collective sale of Tanjong Katong development relaunched at $63 mil
At 52 to 62H Tanjong Katong Road in Singapore, the owners of the 26-unit walk-up development have relaunched the property for tender with a guide price of $63 million. It was previously put up for collective sale in July last year with an indicative price of $65.5 million, but had received several offers below the asking price, according to sole marketing agency Huttons Asia.
Located with an area of about 32,397 ft, the site has been zoned for residential use with an allowable gross plot ratio of 1.4 according to the 2019 Master Plan. The potential to yield a gross floor area of 45,356 ft could potentially see 49 residential apartments with an average size of 915 sq ft being created.
The guide price for the land translates to a rate of $1,401 psf per plot ratio (psf ppr), with an estimated land betterment charge of around $530,000. After factoring …