Gerald Crescent Redevelopment Site Up For Sale For $25mil
A redevelopment site at 2F Gerald Crescent was opened offer for sale by means of bidding with a standard price of $25 mil, reported only marketing and advertising rep ET&Co.
The price formulates to about $785 psf accorded to the plot’s measurement of 2,962.0 sq meter.
Located within the Seletar Hills landed homes estate, the 999-year hire agreement site is inhabited by an uninhabited bungalow.
The typical shaped location, which is region for three floors varying landed housing in the 2K19 Master Plan, is gone with for “a number of landed house types including mixtures”, mentioned the marketing and advertising professional.
It is close to Sungei Punggol river including the Punggol Park Connector. ET&Co noticed that plannings are initiated “to improve the neighboring Punggol Reservoir right into a purposeful spot for recreational water activities as section of the up to date Master Plan”.
Dining, purchasing also leisure services among the proximity include The Seletar Mall, Greenwich V, The Oval @ SAP and also Seletar Country Club.
The home is at the same time nearby multiple schools consisting of Nan Chiau High School, Rosyth Sch, Nanyang Polytechnic, AIS and even International French School.
” Substantial redevelopment plots for landed housing are not usually in the market. The property, that is kept by a solo homeowner, at the same time offers an extraordinary possibilities for urgent revamping,” reported Swee Shou Fern, ED of Investment Advisory at Edmund Tie.
Apart from home creators keen on partitioning the plot to multiple landed homes, Shou Fern furthermore looks forward to interest “from high flyer and also multi-generational households wanting to purchase for their private live in”.
” With constrained source of landed homes in S’pore, an increasing mode to attain bigger houses because of the WFH arrangements and also a low rates of interest atmosphere, everyone expect demand for landed property to continue to be stable.”
The offer for 2F Gerald Crescent ends on 9 Feb.