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Thread: UOL buys Spottiswoode Apartment for $79.5 million

  1. #1
    joe
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    Default UOL buys Spottiswoode Apartment for $79.5 million

    ACQUISITION OF PROPERTY KNOWN AS SPOTTISWOODE APARTMENT LOCATED AT 70 SPOTTISWOODE PARK ROAD, SINGAPORE
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  2. #2
    good one!
    Guest

    Thumbs up Re: UOL buys Spottiswoode Apartment for $79.5 million

    Wow! I know that area, just passed by it the other day and I was wondering how come no en bloc activity here. Good location! This is going to be another 30+ storey project in the city!

  3. #3
    Any complaints please PM me

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    Default Spottiswoode Apt sets new benchmark

    Published April 5, 2007

    [SIZE="5"][B]Spottiswoode Apt sets new benchmark[/B][/SIZE]


    UOL's $79.5 million acquisition of Spottiswoode Apartment, announced late on Tuesday, works out to a unit land price of $732 per square foot per plot ratio including an estimated $167,000 development charge.

    This is a new benchmark for the Neil Road/Cantonment Road area, says United Premas, which brokered the freehold collective sale and released unit land price details yesterday.

    Based on a land cost of $732 per sq ft per plot ratio, UOL's breakeven cost for a new condo project will be about $1,050 psf, market watchers reckon.

    The 38,878 sq ft freehold site is zoned for residential use with a 2.8 plot ratio - the ratio of potential maximum gross floor area to land area - and a 36-storey maximum height under Master Plan 2003.

    The site can be redeveloped into a new condo of about 100 units averaging 1,200 sq ft.

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