Four sites put up for collective sale - 24 Apr 07
Dan
sites put up for sale yesterday.
The most expensive is the 140-unit Grangeford Apartment, which sits on
130,982 sq ft of prime land on Grange Road.
Marketing agent CB Richard Ellis said the asking price is a whopping
$660 million or about $2,016 per sq ft per plot ratio (psf ppr).
If the site is sold at that price, owners could reap up to $3.8
million for larger three-bedders - more than double the last sale
price of $1.8 million in February.
The site is being marketed via an expression of interest exercise on
May 25. So far, 72.5 per cent of owners have agreed - short of the 80
per cent required.
The 74-unit Rivershire on Leonie Hill Road is also up for sale through
a May 29 expression of interest exercise. The 56,396 sq ft site is
expected to fetch about $237 million - a land value of $1,500 psf ppr,
said marketing agent Knight Frank.
Credo Real Estate is putting Nob Hill Condominium and two adjoining
plots up for sale in a May 21 tender. The asking price for the Ewe
Boon/Balmoral area sites is $95 million, or $1,100 psf ppr.
Colliers International has also put Fairways condominium in Telok
Blangah up for sale in a May 16 tender. The successful buyer can
combine the site with a 8,288 sq ft piece of state land, it said. The
146,532 sq ft site has an indicative land value of $238 million or
$773 psf ppr.