Freehold property Cheng Hoe House at Kovan Road up for collective sale

Eugenia 22 Aug 2018

Photo credits: Teakhwa Real Estate

A group of eight townhouses along Kovan Road has been put up for collective sale for $28 million or $1,082.9 per square foot per plot ratio (psf ppr), inclusive of a $6.1 million development charge, reported the Business Times.

Known as Cheng Hoe House, the freehold property sits on a 22,484.9 sq ft site, with a plot ratio of 1.4 as well as a height limit of up to five storeys. Marketing agent Teakhwa Real Estate noted that the site could yield 29 new apartment units averaging 1,076 sq ft each.

The property at 10 Kovan Road is mostly surrounded by landed and low-rise housing. It is located near Kovan MRT station, Kovan City and Heartland Mall, while nearby schools include Paya Lebar Methodist Primary School and Rosyth School.

Meanwhile, it’s land rate may be lowered further to $1,052.5 psf ppr, if the 10 percent bonus balcony area is taken into account.

“The potential freehold residential development will appeal very much to owner-occupiers and first-time buyers with parents staying close by the estate,” said Teakhwa Real Estate managing director Sieow Teak Hwa.

The tender for Cheng Hoe House closes on 19 September.

Eugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email


You may also like these articles

Upper Paya Lebar site awarded to UOL Overseas Investments

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Upper Paya Lebar Road to UOL Investments, after it submitted the highest bid of S$39.30 million.Launched for

Continue Reading16 Jan 2014

Eye on Paya Lebar: Perfect for live, work and play

With the completion of several new residential and commercial developments within the new Paya Lebar Central including Paya Lebar Square, One KM, and more, Paya Lebar is fast becoming an ideal place t

Continue Reading14 Apr 2015

Tee Land cancels en bloc purchase of freehold condo

TEE Land had intended to redevelop the site into a new residential project.Tee Land has decided not to exercise its option to purchase Teck Guan Ville condo, which would have set the company back $60

Continue Reading27 Jul 2018

Response to VERS to depend on govt’s offered price for HDB flats

The response of HDB homeowners to the newly announced Voluntary Early Redevelopment Scheme (VERS) will hinge on its particulars, property experts told TODAYonline.“It boils down to how (it) will be

Continue Reading21 Aug 2018