reporter2
25-04-12, 21:10
http://www.businesstimes.com.sg/archive/wednesday/premium/singapore/harbour-view-gardens-sale
Published April 18, 2012
Harbour View Gardens up for sale
By Mindy Tan
FREEHOLD residential development, Harbour View Gardens, is being put up for collective sale, with an indicative price of between $36 million and $38 million.
This translates to between $836 and $883 per square foot per plot ratio, based on the site area of 30,745 sq ft.
Under the 2008 Master Plan, the site is zoned for "residential" use, with a gross plot ratio of 1.4.
The three-storey residential development, which is located at 211/A to 223/A Pasir Panjang Road, comprises 14 units - seven maisonettes with an average floor area of 2,411 sq ft each and seven walk-up apartments with an average floor area of 1,195 sq ft each.
Upon success of the collective sale, each owner could receive between $1.6 million and $3.6 million.
According to marketing agents Colliers International, the successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775 sq ft each, subject to relevant authorities' approval.
Among the site's attributes is its proximity to the central business district (CBD), VivoCity and Resorts World Sentosa.
Located directly opposite Pasir Panjang Village, the subject site is also within walking distance to the 24-hour Pasir Panjang Food Centre and the upcoming mixed-development, Viva Vista (the former Village Centre) that is due to be completed in 2015.
Said Tang Wei Leng, executive director for investment services at Colliers International: "Pasir Panjang has always been a popular residential suburb ... The area is now undergoing some rejuvenation works, and connectivity to the rest of the island has recently been boosted by the newly-completed Haw Par Villa and Pasir Panjang MRT stations - both of which are within walking distance from Harbour View Gardens."
She added: "This will be a boutique development that offers developers a quick turnaround and an opportunity to tap into the growing demand for new apartments in the western part of Singapore."
The tender will close on May 16.
Published April 18, 2012
Harbour View Gardens up for sale
By Mindy Tan
FREEHOLD residential development, Harbour View Gardens, is being put up for collective sale, with an indicative price of between $36 million and $38 million.
This translates to between $836 and $883 per square foot per plot ratio, based on the site area of 30,745 sq ft.
Under the 2008 Master Plan, the site is zoned for "residential" use, with a gross plot ratio of 1.4.
The three-storey residential development, which is located at 211/A to 223/A Pasir Panjang Road, comprises 14 units - seven maisonettes with an average floor area of 2,411 sq ft each and seven walk-up apartments with an average floor area of 1,195 sq ft each.
Upon success of the collective sale, each owner could receive between $1.6 million and $3.6 million.
According to marketing agents Colliers International, the successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775 sq ft each, subject to relevant authorities' approval.
Among the site's attributes is its proximity to the central business district (CBD), VivoCity and Resorts World Sentosa.
Located directly opposite Pasir Panjang Village, the subject site is also within walking distance to the 24-hour Pasir Panjang Food Centre and the upcoming mixed-development, Viva Vista (the former Village Centre) that is due to be completed in 2015.
Said Tang Wei Leng, executive director for investment services at Colliers International: "Pasir Panjang has always been a popular residential suburb ... The area is now undergoing some rejuvenation works, and connectivity to the rest of the island has recently been boosted by the newly-completed Haw Par Villa and Pasir Panjang MRT stations - both of which are within walking distance from Harbour View Gardens."
She added: "This will be a boutique development that offers developers a quick turnaround and an opportunity to tap into the growing demand for new apartments in the western part of Singapore."
The tender will close on May 16.