The guide price for the freehold site is $38.8 million, or about $1,443 psf per plot ratio. (Photo: Knight Frank)
A 12-unit apartment complex along Dunearn Road in District 11 is the latest in a string of residential properties to attempt a collective sale.
The freehold Dunearn Court sits on an approximately 19,203 sq ft site. It is zoned for residential use under the URA Master Plan 2014 and has a gross plot ratio of 1.4, said marketing agent Knight Frank.
The guide price is $38.8 million, which works out to a land rate of about $1,443 psf per plot ratio.
Located within a private housing estate, Dunearn Court is close to the Tan Kah Kee and Botanic Gardens MRT stations on the Downtown Line. Established schools in the area include Nanyang Girls’ High School and Hwa Chong Institution.
“Redevelopment sites are presently highly sought after, particularly boutique redevelopment sites with gross development value of below $100 million,” said Ian Loh, Knight Frank’s Executive Director & Head, Investment and Capital Markets.
He noted that the successful buyer could potentially configure the maximum permissible gross floor area of around 26,884 sq ft into 32 apartments with an average size of 753 sq ft.
Recent transactions by Knight Frank include the sale of Rio Casa for $575 million, One Tree Hill Gardens for $65 million, and a redevelopment site along Jervois Road for $21 million.
The tender for Dunearn Court will close on 6 September.