Freehold apartment block on Dorset Road on the market for $22 mil
According to ERA, this equates to a gross level location of 15,449 sq ft, and the updated project can house as much as 16 houses with an average dimension of 914.6 sq ft (85 sq m), based on authorizations. The a sign rate is about $1,424 psf per plot ratio (ppr). After considering the 7% extra gross floor location for terraces, the land price develops into $1,331 psf ppr. “Because of its high historical standard, the land enhancement fee is not due for redeveloping the location,” says ERA.
“This spot is suitable for property developers keen to construct a boutique domestic project nestled in a quiet housing territory, yet just minutes far from the buzz of entertainments and even a wide variety of services,” says Tay Liam Hiap, managing director of financial investment sales at ERA Real estate.
The bordering neighbourhood primarily makes up low-rise condominiums together with landed houses. The property neighbors City Square Shopping Mall, United Square and even Velocity. Clinical services just like Farrer Park Hospital also KK Women’s and Children’s Health center are even close.
“Given the latest exceptional profit results of Piccadilly Grand, good need for fresh residential units in the location will likely carry on as there are no upcoming new debut in the pipeline. A benefit for this sale is that it does not need the Strata Titles Boards’ approval, therefore enabling the profitable customer to swiftly turn the spot around and release the unique plan available for sale,” claims Tay.
The property comprises a three-storey walk-up apartment block with double frontals along Dorset Roadway including Truro Road. It rests on a combined spot area of 11,035 sq ft. The location is zoned “non commercial” with a gross plot ratio of 1.4 under the most recent Master Plan.
The tender for the sale of 103A/B and 105A/B Dorset Roadway will finalize on Dec 15.
A freehold house block at 103A/B including 105A/B Dorset Road has already been put up for sale with a sign cost of $22 million. ERA Realty Network is the exclusive advertising broker for the purchase of this real estate.
The area’s appearance is improved as a result of the successful debut of nearby Piccadilly Grand. The 99-year leasehold integrated property is a mutual project involving City Developments (CDL) and also MCL Land. The 407-unit undertaking was introduced in May this year, marketing 77% of the complete available units furthermore achieving an average market price of $2,150 psf. Piccadilly Grand is around 85% offered as of end-October.
Elementary schools throughout 1km of the development are Farrer Park Primary School also St Joseph’s Institution Junior. More primary schools around are Anglo-Chinese School (Junior), Bendemeer Primary School, and St Margaret’s Primary School.
This building is less than 500m from Farrer Park MRT Terminal on the North-East Line. This site is one stop from Little India MRT Interchange on the Downtown as well as North-East Lines. Route connectivity is through Bukit Timah Road, Serangoon Road, Balestier Road, Moulmein Road, plus the Central Expressway.
