Freehold residential block in prime District 9 for sale
  • Investment Advisory
  • 20 January 2021

Freehold residential block in prime District 9 for sale

SINGAPORE, 18 JANUARY 2020As the sole marketing agent for 2, 4 and 6 Mount Emily Road, Edmund Tie & Company (EDMUND TIE) is pleased to launch the three freehold residential buildings for sale by tender. 100% of the owners have given consent to the sale.

The freehold properties, located at the exclusive Mount Emily Road, comprise 3 adjoining, 3-storey buildings with basement and attic, sitting 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 within the Mount Sophia secondary settlement conservation area. Subject to authorities’ approval, the property may be strata subdivided and a new rear extension of up to 36 m Singapore Height Datum (SHD) may be erected.

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, Ms Swee Shou Fern, commented: “Due to the high existing gross floor area, no development charge is payable. The guide price of $1,115 per square foot on gross floor area compares favourably to the recently transacted collective sale of Fairhaven and Sophia View at a combined land price of $1,158 ppr and collective sale of Casa Sophia at $1,120 ppr.

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.”

The guide price for the property is $18m, reflecting approximately $1,115 per square foot on existing gross floor area.

The tender exercise will open on Tuesday, 19 January 2021 and close on Thursday, 25 February 2021 at 3pm.

ENDS

For further information, please contact:

Wong Wei Chen
Senior Manager, Corporate Communications
O: +65 6393 2369
Email: weichen.wong@etcsea.com

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