ST: Watten Estate condo up for collective sale - 14 Jul 07

[Dan @ 94 777 977]

July 14, 2007
$480M ASKING PRICE
Watten Estate condo up for collective sale
By Erica Tay

WATTEN Estate Condominium along Shelford Road is up for collective
sale by tender with a price tag of $480 million.

If this price - it works out to a ratio of $1,550 per sq ft per plot -
is achieved, the deal will become the most valuable done in the
Watten area.

The freehold Bukit Timah estate is a development of 104 units made up
of a block of apartments and four blocks of townhouses.

Watten Estate sits on a large piece of elevated prime land of more
than 20,400 sq m. It is in a quiet enclave off busy Dunearn Road and
less than 1 km from a handful of top schools.

The estate is also near the upcoming Botanic Gardens MRT Station.

'Assuming a building efficiency of 90 per cent, the site can be
redeveloped into a residential development of about 210 units with an
average unit size of 1,300 sq ft,' said DTZ Debenham Tie Leung, which
is handling the sale.

Mr Shaun Poh, DTZ's director of investment advisory services,
said: 'Watten Estate is probably the only large and elevated
residential site available for sale in the Shelford Road and Watten
Road area.'

The tender closes on July 31.