Residential site in East Coast up for sale

A freehold residential land parcel at East Coast in District 15 has been launched for public tender, according to Channel NewsAsia.

HSR Investment Sales, its exclusive marketing agent, said the owners of the four landed homes on the site unanimously agreed to the joint investment sale.

Located near Telok Kurau Park & Siglap Park Connector, the 1,708.6 sq m site is priced between S$23.25 million and S$23.75 million, which works out to around S$868 psf ppr to S$886 psf ppr. The indicative price includes a development charge of S$1.485 million.

It can be developed into 46 luxury apartments with an average size of 600 sq ft.

“Such smallish sites are in great demand especially for newcomers ploughing their interest to enter the development arena,” said Jeffrey Goh, Head of Investment Sales at HSR.

HSR added that the tender for the site will close on 7 December 2011.

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