Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft. After factoring in the additional buyer’s stamp duty, the development is “attractively priced” at $1,825 psf per pot ratio and could be redeveloped into 242 modern resort houses.
Watten Estate Condominium, a 104-unit freehold development in Bukit Timah, has been put up for collective sale with a reserve price of $536 million or $1,738 per sq ft per plot ratio (psf ppr).
No development charge is payable.
Located at Shelford Road, the condominium is nestled on a sprawling 220,234 sq ft site, which is zoned residential with a gross plot ratio of 1.4 and a total allowable gross floor area of 308,341 sq ft, reported The Straits Times.
Marketing agent Huttons revealed that the site could be redeveloped into 242 modern resort houses, measuring 1,270 sq ft (118 sq m) on average.
After factoring in the additional buyer’s stamp duty, the development is “attractively priced” at $1,825 psf ppr, noted Huttons. Recently concluded deals within the area include Crystal Tower sold at $1,840 psf ppr, City Towers at $1,847 psf ppr, Dunearn Gardens at $1,914 psf ppr and Royalville at $1,960 psf ppr.
Watten Estate Condominium is a mere seven-minute walk to Tan Kah Kee MRT station and is near Nanyang Primary School and Raffles Girls’ Primary School.
With last year’s cooling measures affecting the residential collective sale market, Huttons took a different marketing approach for the big prime site by engaging a team of architects to draft a design concept for the site, said Huttons Asia investment sales head Terence Lian.
Huttons Asia deputy head of investment sales Angela Lim explained that the concept indicated how the site could be redeveloped into 242 modern resort houses that “blend in well with its natural terrain and environment”.
“Families looking for a home in the Bukit Timah area would appreciate such large and resort-styled homes with lush greenery on an undulating site,” she added.
The tender for Watten Estate Condominium closes on 18 October.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
