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Thread: Leong Bee Court up for collective sale

  1. #1
    Join Date
    Mar 2010
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    2,571

    Default Leong Bee Court up for collective sale

    This one very close to Potong Pasir MRT, close to One Leicester condo.

    http://www.channelnewsasia.com/stori...119518/1/.html


    SINGAPORE : Leong Bee Court, a freehold residential development located at Woodsville Close, off Upper Serangoon Road, has been put up for collective sale.

    The indicative asking price of S$60 million to S$68 million works out to S$668 to S$758 per square foot per plot ratio.

    No development charge is expected.

    The site has a land area of about 29,400 square feet. Under the URA Master Plan 2008, it is zoned for residential use and can be built up to 24 storeys high.

    The 25-year-old development currently consists of 27 apartments of sizes ranging between 1,870 square feet to 2,450 square feet.

    Subject to the necessary approvals, a new development can potentially have a build-up gross floor area of about 89,800 square feet, which is equivalent to a gross plot ratio of 3.05.

    The site can be further enhanced by a possible amalgamation with an adjoining state land of about 1,340 square feet.

    Future development can yield 90 housing units averaging 1,000 square feet per unit, targeting mid-tier investors who want to own a freehold property that is very close to an MRT station and a few stops away from town.

    A new freehold development on the site is expected to fetch around S$1,400 psf to S$1,500 psf.

    Head of Investment Sales at HSR, Jeffrey Goh, said: "The currently vacant land parcels surrounding Potong Pasir MRT Station is primed for future development such as a new mega mall or mixed commercial & residential developments."

    HSR Property Consultants is the exclusive marketing agent and property consultants handling the tender, which closes on April 27.

    - CNA/al

  2. #2
    Join Date
    Jun 2007
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    D15
    Posts
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    Default

    any owners that put up enbloc during this period until 2015 shall be snapped up in a blink of an eye. Have you seen how a vacuum cleaner works before ?

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