Homeowners at the 71-unit residential development are expecting offers above $95 million. (Photo: ERA Realty)
St Francis Court, an 11-storey residential tower at 90 Saint Francis Road, is up for collective sale, with the owners expecting offers above $95 million, revealed marketing agent ERA Realty.
While no differential premium is payable, the intensification and top up premium for the site stands at between $9 million and $15 million. With this, owners can expect to receive sales proceeds of over $1 million to $1.5 million each, depending on the size of their units.
The 71-unit development sits on a 34,111.12 sq ft site with a plot ratio of 2.8 under the 2014 Master Plan. With 73 years left on its 99-year lease, the site could yield 100 to 120 housing units once redeveloped.
“The proposed redevelopment would not require a Pre-Application Feasibility Study (PAFS) as confirmation with the Land Transport Authority (LTA),” said ERA.
Located within the central region and close to City Square Mall and Boon Keng MRT station, St Francis Court is a short drive away from the Orchard Road shopping belt and central business district.
The development is also within 1km from Bendemeer Primary School, Hong Wen School and St Andrew’s Junior School.
The tender for St Francis Court closes on 29 November.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email email@example.com