Two more sites up for collective sale

Keshia Faculin26 Dec 2017

Kovan Lodge is a freehold condominium development located at 51A, Kovan Road (S)548135 in District 19.

The collective sales market continues to heat up with the launch of two more sites – the freehold development of Kovan Lodge and 43-unit Ampas Apartments, reported The Straits Times.

Nestled on a 27,091 sq ft site, Kovan Lodge is a four-storey property comprising 16 apartments with a total strata area of 30,440 sq ft. Located near Heartland Mall-Kovan and Kovan MRT station, the site is zoned for residential use under the 2014 Master Plan with a plot ratio of 1.4.

The owners of Kovan Lodge are asking for $43 million, which works out to $1,134 psf per plot ratio (ppr), said marketing agent Huttons Asia, while noting that no development charge is payable for the site.

Meanwhile, the owners of Ampas Apartments are asking for $105 million.

Inclusive of a development charge of around $523,092, the asking price works out to around $1,246 psf ppr.

Located near Shaw Plaza and Balestier Plaza, the 16-storey Ampas Apartments has a total strata area of around 60,612 sq ft. The site, which is zoned for residential use, has a plot ratio of 2.8.

The tender for Kovan Lodge closes on 18 January, while that for Ampas Apartments closes on 25 January.

Stephen Tan, head of collective sales at Huttons, however, noted that he was not authorised by the sales committees of the two developments to reveal their respective reserve prices.


This article was edited by Keshia Faculin.


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