The asking price for the apartment block works out to a land rate of $2,293 psf ppr. (Photo: SRI)
St Thomas Lodge, a five-unit apartment at 32 St Thomas Walk in District 9, has been put up for sale with a guide price of $40 million, according to marketing agent Singapore Realtors Inc (SRI).
Including the development charge for site intensification, the price works out to a land rate of $2,293 psf per plot ratio (psf ppr).
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The freehold property has a land area of about 7,152 sq ft and is zoned residential under the 2014 Master Plan with a gross plot ratio of 2.8.
It is held under a single ownership and the sale will not be subject to the Strata Titles Board or High Court’s approval. SRI noted that the property’s single ownership status provides the sale “certainty of completion”.
It added that the successful tenderer could potentially amalgamate the site with either two neighbouring land parcels for redevelopment. SRI revealed that the tender exercise for 30 St Thomas Walk closed on 3 July, while St Thomas Ville at 38 St Thomas Walk is undergoing collective sale.
“We believe the expression of interest exercise will draw keen interest from parties looking to amalgamate with either neighbouring plot for redevelopment,” said SRI managing director Tony Koe.
The expression of interest for St Thomas Lodge closes on 30 July.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org