Freehold residential site in Newton for sale at $20 mil

Freehold residential site in Newton for sale at $20 mil

By Charlene Chin
EdgeProp Singapore

October 7, 2020 1:35 PM SGT

SINGAPORE (EDGEPROP) - A freehold residential site at Newton is on the market at a guide price of $20 million, or approximately $1,467 psf per plot ratio, according to JLL, which is marketing the property.

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1C Evelyn Road (Credit: JLL)

Spanning 9,873 sq ft, the site at 1C Evelyn Road is zoned residential. It has a gross plot ratio of 2.8 and an allowable height of up to 36 storeys under URA’s Master Plan 2019.

Currently, there is a two-storey detached house with an annexed self-contained apartment unit on site.

In 2019, approval was granted from the authorities for the site to be redeveloped into a boutique residential development comprising 25 apartments with a minimum average of unit size of 100 sq m (1,076 sq ft). The potential gross floor area of the development would then be 29,578 sq ft, inclusive of the additional 7% bonus gross floor area for balconies.

The site is a seven-minute walk to Newton MRT Interchange Station on the Downtown and North-South Lines.

The expression of interest exercise for the site closes on Nov 4, at 2.30 p.m.