Featuring 68 apartment units, the freehold development occupies a 44,878.34 sq ft site with a gross plot ratio of 2:1 under the 2019 Master Plan. Photo: ERA
Fortune Park, a 10-storey residential block at 109 Tampines Road, has been relaunched for collective sale via public tender with an indicative price of $115 million, revealed marketing agent ERA Realty Network.
Its first attempt at a collective sale was in March, when it carried an indicative price of between $115 million and $118 million.
Featuring 68 apartment units, the freehold development occupies a 44,878.34 sq ft site with a gross plot ratio of 2:1 under the 2019 Master Plan.
ERA noted that the site, which has an achievable proposed gross floor area (GFA) of 94,244.52 sq ft, could be redeveloped into 103 apartment units.
With this, development charges will no longer be payable due to an existing high baseline.
Located near Kovan MRT station and Heartland Mall, Fortune Park is also strategically situated adjacent to major expressways such as Central Expressway (CTE) and Kallang-Paya Lebar Expressway (KPE).
Nearby schools and educational institutions include Holy Innocents Primary and Secondary Schools, Xinghua Primary School, Serangoon Secondary School, DPS International School, Yuying Secondary School as well as Paya Lebar Methodist Primary and Secondary Schools.
The tender for Fortune Park will close on 30 September.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: firstname.lastname@example.org