Gerald Crescent Redevelopment Site Up For Sale For $25mil
An improving spot at 2F Gerald Crescent was commenced up for sale by means of tender by a lead price of $Twenty Five million, announced single advertising professional ET&Co.
The price figures out to around $785 per square ft formed on the site’s measurement of 31,882 sq ft.
Discovered amongst the Seletar Hills landed homes territory, the nine hundred ninety nine years leasehold plot is inhabited by an abandoned house.
The regular designed spot, which is region for three-storey different landed property under the 2019 Master Plan, is suited for “a variety of landed house forms as well as combinations”, announced the advertising rep.
The land is near Sungei Punggol river including the Punggol PC. Edmund Tie noticed the fact that arrangements are in progress “to transform the surrounding Punggol Reservoir in to a dynamic space for recreational water adventures as a component of the recent Master Plan”.
Dining, buying also entertainment features inside the location contain The Seletar Mall, Greenwich V, The Oval @ SAP plus Seletar Country Club.
The residence is also in close proximity to a number of schools including Nan Chiau High School, Rosyth Sch, Nanyang Polytechnic, Australian International School and International French School.
” Substantial upgrading sites for landed home are not often in the market. The property, which is lasted by a single homeowner, additionally gives a remarkable option for prompt upgrading,” mentioned Ms Swee, ED of Investment Advisory in Edmund Tie.
Other than residence developers intent on parting the plot to several landed residences, Shou Fern also foresees enthusiasm “from HNW or even multi-generational families planning to purchase for their private reside”.
” With restricted stock of landed house in Singapore, a growing pattern to get bigger properties as a result of WFH plans as well as a low rates of interest environment, we foresee need for landed house to stay stable.”
The tender for 2F Gerald Crescent ends on 9February 2021.