Cheng Hoe House in Kovan up for collective sale

TUE, AUG 21, 2018

LEILA LAI


CHENG Hoe House, a group of eight freehold townhouses, was on Monday launched for collective sale by tender for S$28 million, marketer Teakhwa Real Estate said.

The reserve price reflects a land rate of S$1,082.90 per square foot per plot ratio (psf ppr), including a development charge of about S$6.1 million.

Teakhwa Real Estate said the land price would fall to S$1,052.50 psf if the 10 per cent bonus balcony area is included.

The 22,484.9 sq ft residential site has a plot ratio of 1.4; the allowable height limit is five storeys.

Subject to approval from the relevant authorities, the potential gross floor area (GFA) could yield 29 apartments in the new development, with an average per-unit size of 1,076 sq ft.

The property is at 10 Kovan Road, surrounded by mostly landed and low-rise housing, and within three minutes' walk of Kovan MRT station, Heartland Mall and Kovan City.

It is also within two km of Rosyth School and Paya Lebar Methodist Primary School.

Sieow Teak Hwa, managing director of Teakhwa Real Estate, said: "The potential freehold residential development will appeal very much to owner-occupiers and first-time buyers with parents staying close by."

The tender closes at 2pm on Sept 19.