Despite the government’s release of new property cooling measures, the owners of Casa Sophia in District 9 remained undeterred as they launched the 12-unit development up for collective sale with a reserve price of $36 million.
If the sale proves to be a success, each owner stands to gain between $2.69 million and $3.4 million, revealed marketing agent ERA Realty Network.
Located in the heart of Mount Sophia, the freehold property sits on a 12,327.9 sq ft. site that is zoned residential under the 2014 Master Plan, with a gross plot ratio of 2.1.
ERA noted that investors are generally attracted to developments in Mount Sophia due to their prime location in District 9 and close proximity to Dhoby Ghaut MRT and Orchard Road.
“All owners are very supportive and we are happy to have garnered 100 percent consensus. The location is surrounded by prestigious schools and is close to the heart of Orchard Road, projects here will definitely appeal to both investors and families,” said ERA representative Tjhai Citanegara.
Casa Sophia is also near various schools such as Nanyang Academy of Fine Arts, Saint Margaret’s Primary School, LASALLE College of the Arts, Singapore Management University and School of the Arts Singapore.
The tender for the site closes on 14 August.
Senior Content Producer, Christopher Chitty, edited this story.
