Gerald Crescent Redevelopment Site Up For Sale For $25mil
A revamping spot at 2F Gerald Cres. has been kicked off to buy via tender utilizing a model pricing of $25 million, published only marketing professional Edmund Tie.
This calculates to more or less $785 per sq foot based on the spot’s space of 2,962.0 square meter.
Discovered among the Seletar Hills landed housing grounds, the 9hundred 99 years leasehold location is taken up by a vacant landed property.
The traditional formed plot, that is area for 3 levels different landed home in the 2019 Master Plan, is gone with for “a variation of landed housing forms including mixes”, claimed the advertising and marketing rep.
The land is alongside Sungei Punggol river as well as the Punggol PC. ET&Co recorded that plans are ongoing “to convert the close-by Punggol Reservoir in the direction of through to an energetic location for fun water adventures as section of the existing Master Plan”.
Dining, purchasing plus entertainment features inside the area feature The Seletar Mall, Greenwich V, The Oval @ Seletar Aerospace Park plus Seletar Country Club.
The property is also nearby various colleges such as Nan Chiau High School, Rosyth School, Nanyang Polytechnic, AIS and also International French School.
” Sizable redevelopment spots for landed home are hardly attainable. The property, which is maintained by a single property owner, definitely provides a phenomenal possibilities for instant reconditioning,” shared Swee Shou Fern, Executive Director of Investment Advisory over at ET&Co.
Besides domestic builders intent on redividing the plot to a number of landed homes, Shou Fern at the same time predicts enthusiasm “from high-net worth and also multi-generational family groups aiming to purchase for their own reside”.
” With minimal quantity of landed homes in SG, a developing mode for bigger properties because of work-from-home setups plus an economical rates of interest situation, everyone predict interest for landed house to stand stable.”
The tender to obtain 2F Gerald Crescent discontinues on 9 Feb.