Gerald Crescent Redevelopment Site Up For Sale For $25mil
An improving site at 2F Gerald Cres. was debuted for sale through bidding with a lead price of $25 mil, revealed single marketing rep Edmund Tie.
This figures out to close to $785 psf accorded to the spot’s space of 31,882 square foot.
Located amongst the Seletar Hills landed homes area, the 999-year tenture spot is taken up by an abandoned bungalow.
The traditional shaped plot, that is zoned for three-storey bundled landed property under the 2K19 Master Plan, is gone with for “a variation of landed house categories and combinations”, announced the promotion and marketing agent.
It is alongside Sungei Punggol river additionally the Punggol PC. ET&Co wrote that strategies are ongoing “to change the nearby Punggol Reservoir into a dynamic spot for family water functions as aspect of the existing Master Plan”.
Eating, shopping plus entertainment features amongst the area feature The Seletar Mall, Greenwich V, The Oval @ Seletar Aerospace Park and Seletar Country Club.
The home is in addition close to a variety of educational institutions including NCHS, Rosyth School, Nanyang Polytechnic, Australian International School also IFS.
” Sizable refitting sites for landed homes are hardly available. The home, which is lived on by a sole property owner, definitely offers an outstanding possibility for instant refurbishing,” announced Ms Swee, ED of Investment Advisory in ET&Co.
In addition to residential creators eager on parting the spot to more than one landed homes, she furthermore looks forward to curiosity “from high-net worth and also multi-generational family groups planning to buy for their private live in”.
” By having restricted supply of landed property in Singapore, an evolving mode to attain bigger residential properties because of the work-from-home options and also a lowered rates of interest atmosphere, everyone anticipate interest for landed homes to carry on solid.”
The tender for 2F Gerald Crescent concludes on 9 February.