Amber Towers up for en bloc sale

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The 54-unit Amber Towers at Amber Road is up for en bloc sale, with an asking price of between S$168 million and S$172 million.

This translates to around S$1,152 psf ppr to S$1,180 psf ppr, given the gross floor area (GFA) of about 145,813 sq ft that a new development project could yield on the site. No development charge is payable.

Amber Towers, which sits on a 40,708 sq ft plot, is located near Playground @ Big Splash, Parkway Parade and the upcoming Katong Mall. It is also within proximity of several schools such as Tao Nan School, Tanjong Katong Girl’s School and the Canadian International School (Tanjong Katong Campus).

The site can be redeveloped into a new project that could yield a GFA of 145,813 sq ft and a gross plot ratio of 3.58, exceeding the permissible plot ratio of 2.8 under the Master Plan 2008.

Savills Singapore, the marketing agent for the property, estimates that a new condo project on the site could yield up to 110 units with an average size of 1,200 sq ft each.

Suzie Mok, Director of Investment at Savills Singapore, expects that Amber Towers will attract strong interest, “as it is well located along the choice stretch of Amber Road in District 15, which has always appealed to the upper mid-market residential segment.”

She noted that the site will “enjoy both a panoramic view of the city, as well as good pocket sea views.”

The tender for the site will close on 28 March.

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