SINGAPORE, 1 MARCH 2021 – 2, 4 and 6 Mount Emily Road comprising three adjoining 3-storey residential buildings have just been sold via a collective sale to ZACD International at SGD18m. This transaction marks the first collective sale of this year.
The freehold properties, located at the exclusive Mount Emily Road, sits on a total site area of 515.5 sq m (approximately 5,549 sq ft) with an existing gross floor area of 1,499.3 sq m (approximately 16,138 sq ft). Under Master Plan 2019, the property is zoned for residential use at plot ratio 2.1.
Nestled in a tranquil enclave near Mount Emily Park, the property enjoys an exciting location at the fringe of the city centre, within close proximity to the CBD and Orchard Road. The neighbourhood is a vibrant mix of arts, heritage and cultural districts, and the property is well served by a wide array of amenities. The Little India MRT interchange serving the Downtown and North East MRT lines is a mere 200 m away, providing easy accessibility to all parts of Singapore.
Executive Director of Investment Advisory at Edmund Tie & Company, Ms Swee Shou Fern, commented: “The tender attracted very keen interest from developers and investors due to its prime location and bite-sized quantum. The 100% owners’ consent also provided the developer certainty in deal completion timeline. The sale price of $18 million reflects a land rate of $1,115 per square foot per plot ratio (psf ppr), with no development charge payable due to its high development baseline.”
Ms Kain Sim, Chairman of ZACD Group, an integrated asset manager listed in Hong Kong (HKEX 8313) and headquartered in Singapore, commented: “We are happy with the team’s success in clinching the site. This acquisition is in line with ZACD’s focus in acquiring properties with value added potential in prime locations. I see a great potential to develop this property into a unique offering for urban living.”
EDMUND TIE is also handling the sale of 6A/B/C Robin Drive and 48 Hillside Drive, with its tender closing on 3 March 2021 and 23 March 2021 respectively. They are also conducting an Expression of Interest exercise for 296 to 308 (even numbers only) Lavender Road, closing on 24 March 2021.
For further information, please contact:
Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369