Freehold Site At Mounbatten Road On Sale For $13mil
A free from hold non commercial land at 801 Mountbatten Rd in District 15 has been on the market by using EOI for a lead fee of $13 million.
This calculates to roughly $1.2K psf based upon the residence’s 10.839K square foot area of land, disclosed restricted marketing agent Savills SG.
Being sold on uninhabited ownership, the site rejoices in a twenty-five meters path facade by Mountbatten Rd in addition to a piece depth of nearly thirty-seven meters.
Zoned for non commercial, 2 floor semi-detached utilization under the 2019 Master Plan, the property piece includes a consistent ground arrangement, allowing for optimum development flexibility.
Savills considered this particular site furnishes the flexibility for being rebuilt into a variety of landed housing styles like a couple of house or detached properties, a set of semi-d residences and a bungalow, based on the permission of authorities.
Located 350m from the future Tanjong Katong Mass Rapid Transit terminal, the location is near schools such as Tanjong Katong Girls’ School, Tanjong Katong Primary School, Chung Cheng High Sch as well as Tanjong Katong Secondary School.
The site, the immediate neighbourhood of which mainly consists of private ground houses, is similarly near Parkway Parade, i12 Katong and the East Coast Rd shophouses.
“This offer is a remarkable prospect for the two real estate investors as well as end-users to acquire a substantial free lease land piece inside a wealthy area, whereby there’s constantly limited amount of free lease as well as regular structure housing landed rebuilt area within the property scarce S’pore offer for sale,” explained Ms Yap, Dir of Investment Sales & Capital Markets at Savills S’pore.
“The hiding need for landed residential properties maintains fairly solid as many strong assets people/ households are continuously on the search for conveniently positioned landed residences granted the desirable long-lasting prospect for this particular property classification”, she added in.
The Expression of Interest activity for 801 Mountbatten Road seals on 12January 2021.