Mount Emily residential buildings on sale for $18mil

19 Jan 2021

Located 200 m away from Little India MRT interchange, the freehold properties are near Mount Emily Park, Orchard Road and the central business district. Image: Edmund Tie & Company

A portfolio of three freehold residential buildings at 2, 4 and 6 Mount Emily Road is up for sale by tender, with a guide price of $18 million or $1,115 per sq ft (psf) based on existing gross floor area, revealed marketing agent Edmund Tie & Company.

The prime District 9 residential portfolio comprise adjoining units of three-storey buildings with basement and attic.

With an existing gross floor area of 1,499.3 sq m (16,138 sq ft), the property is nestled on 515.5 sq m (5,549 sq ft) site that is zoned for residential use under the 2019 Master Plan with a plot ratio of 2.1.

Recommended article: The URA Master Plan: How to Understand It and Make Your Property an Investment

Located within the Mount Sophia secondary settlement conservation area, the freehold properties are near Mount Emily Park, Orchard Road and the central business district. They are is also about 200 m from Little India MRT interchange, which serves the North East and Downtown MRT lines.

Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie & Company, noted that the $1,115 psf guide price “compares favourably to the recently transacted collective sale of Fairhaven and Sophia View at a combined land price of $1,158 per plot ratio (ppr) and collective sale of Casa Sophia at $1,120 ppr”.

Suggested read: En Bloc to Make a Comeback in 2021: A Look at 74 Past Unsuccessful En Bloc Sales

She revealed that no development charge is payable, due to the properties’ high existing gross floor area.

“With an affordable bite-size quantum, the properties at 2, 4 and 6 Mount Emily Road presents an exceptional opportunity for one to transform this well-located property into a boutique residential development for future sale of strata subdivided units. The 100% owners’ consent also offers certainty in deal completion timeline,” she said.

The tender exercise for 2, 4 and 6 Mount Emily Road closes on 25 February.

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