http://www.businesstimes.com.sg/arch...-sale-20140725
Published July 25, 2014
Kheam Hock Gardens put up for en bloc sale
[SINGAPORE] Private residential development Kheam Hock Gardens off Dunearn Road was launched for sale by tender yesterday.
The 41,245 sq ft site has a S$59 million reserve price, which translates to a per-sq-ft price of S$1,430.
Located at 38 Kheam Hock Road, the freehold development - a regularly-shaped plot was designated as "residential, two-storey mixed landed" under the Master Plan 2014 - comprises 19 apartments. More than the required 80 per cent of owners have consented to the collective sale.
The gross plot ratio is 1.05, and its gross floor area (GFA) is 43,300 sq ft. If the GFA of the redevelopment exceeds this, development charges will be payable. Based on the Urban Redevelopment Authority's typical plot size for a terrace unit, developers can build up to 25 strata terrace units; they may also go for any alternative combination of detached, semi-detached and terrace units.
Kheam Hock Gardens is within walking distance of Botanic Gardens MRT Station on the Circle Line. Accessibility to the Marina Bay central business district area will improve when the station is extended to become part of the Downtown Line as well.
The site is a three to five-minute drive away from the Pan Island Expressway, Dunearn Road and Bukit Timah Road. Tucked within a private residential enclave, Kheam Hock Gardens sits amid lush greenery, said CBRE, the sole marketing agent.
CBRE's director of investment properties Galven Tan said: "The natural topography allows a developer the flexibility in designing a development that will take advantage of this tranquil and lush environment."
He added that with the "very manageable" development size, he expected keen interest from developers.
The tender for Kheam Hock Gardens closes on Sept 15.
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