Greenlodge Condo up for en bloc sale, with $135m asking price

Owners at Greenlodge Condominium in Toh Tuck Road launched its freehold estate for en bloc sale. This was prompted by the improving property market.

They are asking for $135 million for the site, which translates to $683 per square foot per plot ratio (psf ppr), including the development charge.

The 14,000-sq-ft freehold land currently comprises 80 units.

Newman & Goh, the marketing agent of Greenlodge Condo, believes that the site can be potentially redeveloped to 211 units of boutique apartments at an average size of 1,000 sq ft.

Newman & Goh expects to fetch no less than $1250 per sq ft for this new development project.

The collective tender for the site will close on January 13, 2010.