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ABOUT THE EN BLOC SALES
Apartment 8 at 21 Meyappa Chettiar en bloc is a development listed into collective sales in the year 2017. This site which has 8 apartment units is situated at 21 Meyappa Chettiar Road in District 13. Apartment 8 is completed in 1995 has been a nice and quiet home to manny at the time.
The property which has 898.1 square meters is developed with exemplary units. Zoned for a residential use, the site for Apartment 8 has a freehold tenure.
The tender which closed on December 2017 has been acquired by the famous Oxley Holdings at $21.53 million. Funded by bank borrowings and internal resources, the acquisition is not seen to affect the company’s net tangible which will be ending in June this year.
The property’s last transaction for its units is recorded in 2012 for a price of $1.28 million from an HDB buyer. This indicates a 69% premium paid by the acquiring developer.
The sale has been split into three payments, dividing the amount by $215,300 upon the options granting and an additional $861,200 during its exercise of options. The total balance was paid on the sale completion on March 2018.
APARTMENT 8 LOCATION
The location for the site of Apartment 8 en bloc is astonishingly close to various amenities. A mere 3 minutes walk leads to the St. Andrew’s Junior College, Ascention Kindergarten, and St. Andrew’s Secondary School. A diverse array of dining establishments like Broadway Food Centre, Melben Legend Seafood, and Tian Wai Tian Fish Head Steamboat are within a reachable distance from the site.
The area is bordered by Pan Island Expressway (PIE), Upper Serangoon Road, and Central Expressway (CTE) to keep the inhabitants conveniently connected to the amenities that are essential to their lifestyle.
MRT stations as well are within reach. The Potong Pasir MRT is just about a 3-minute walk from the residence. With the Potong Pasir bus station and several more within the close proximity, residents will have the comfort of commuting to their destination.
The shopping malls are within a 5-minute drive along the road. The list includes establishments like Macpherson Mall, United Square Shopping Mall, Zhongshan Mall and NEX Shopping Centre. All these offers your needed shopping items at commendable prices.
MODE OF TRANSPORT
- Potong Pasir MRT
- Pan Island Expressway (PIE)
- Central Expressway (CTE)
NEARBY AMENITIES
- Macpherson Mall
- Broadway Food Centre
- Toa Payoh Golf Range
- Upper Serangoon Shopping Centre
POTENTIAL OF THE SITE
This site in Meyappa Chettiar Road presents a promising development. The new development, The Addition contrary to its low profile, the property is anticipated to be a home to a marvellous residential development that will be a notable sight to the area. The site has 898.1 square meters land area which can accommodate a luxurious abode provided that is supplied with a vast array of modern facilities to be enjoyed by its future inhabitants.
The proximity of the site to the amenities that are necessary for a fun and exceptional lifestyle gives the future development an excellent potential to attract buyers and investors.
The Potong Pasir area has an excellent rental yield percentage ranging from 2.6% to 4.1% as the area is within a short drive from the Central Business District (CBD), providing a more attractive rental opportunity to property-seekers.
Nearby upcoming new condos like Woodleigh Residences likely to launch at $2000psf set to bring up the values of new condos in Potong Pasir together with Park Colonial and The Tre Ver.
APARTMENT 8 NEW CONDO REGISTRATION OF INTEREST
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