Three-Storey Building Sold For $18mil In This Year’s First Collective Sale
Situated near Mt Emily Park, the free lease residences covers a total location measurement of 515.5 square meter and comes with an existing gross floor area of 16,138 sq foot. Sector for domestic utilization under the ’19 Urban Redevelopment Authority Master Plan, the property carries a plot ratio of 2.1.
It is strategically located at the fringe of the city hub, with the Little India MRT interchange a mere 200 m walk. The residence is similarly among close distance to Orchard Road as well as the Central Business District.
Swee Shou Fern, ED of Investment Advisory at Edmund Tie & Company, made public that the $18 mil figure calculates to a land rate of $1,115 per square foot ppr, without building expenditure payable because of the house’s large building baseline.
” The tender caught the attention of very keen interest out of creators together with venture capitalists thanks to its perfect area along with minimum amount. The one hundredpercent owners’ consent likewise ensured the builder confidence in deal completion schedule,” Shou Fern add on.
ZACD Grp Chairman Kain Sim stated the possession continues in track with the firm’s “goal in acquiring properties with market price supplemented likely in perfect spots”.
” I see an ideal prospective to develop this house into an extraordinary furnishing with respect to urban residing.”
ZACD Grp is an incorporated asset leader publicly traded in HK also located in S’pore.