Le Arc Apartment up for collective sale again at $18.5m

Romesh NavaratnarajahApril 24, 2019

Le Arc Apartment crop

The minimum offer of $18.5 million is down from the previous expectation of about $20 million to $22 million. Located near the Aljunied and Dakota MRT stations, the freehold site is within 1km from Kong Hwa School and Geylang Methodist School (Primary). It is also close to Old Airport Road Food Centre and the Singapore Sports Hub.

After a failed attempt last year, Le Arc Apartment at 6 Lorong 26 Geylang is once again up for collective sale.

This time the owners expect a minimum offer of $18.5 million, down from their previous expectation of about $20 million to $22 million.

More: Understanding The En Bloc Process (August 2018)

The price works out to about $847 psf per plot ratio (psf ppr) or $792 psf ppr including the seven percent bonus balcony area and the development charge of about $150,000, revealed marketing agent ERA Realty.

In the event of a successful sale, each owner could receive sales proceeds of $1.6 million to $1.8 million.

The 12-unit residential development is nestled on a 7,859.9 sq ft site zoned residential under the 2014 Master Plan with an allowable height of up to eight storeys and a gross plot ratio of 2.8.

Located near the Aljunied and Dakota MRT stations, the freehold site is within 1km from Kong Hwa School and Geylang Methodist School (Primary). It is also close to Old Airport Road Food Centre and the Singapore Sports Hub.

ERA noted that the property could be redeveloped into 22 to 25 new apartment units.

The tender for Le Arc Apartment closes on 8 May.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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