Table of Contents
ABOUT THE EN BLOC SALES
City Towers is a residential block located in a prime area along Bukit Timah Road in District 10. This property is comprised of 77 units of apartments and maisonettes, including a penthouse and a shop. The property is built during the 1960’s. Launched into tender on January 4, 2018, with a reserved price of $355 million. Perfect Ten 10 is another promising property developed by the renowned Japura Development nestled in the same District 10 of Singapore.
With its location which is in a proximate distance from most visited shopping malls and reputable schools, the en bloc site has attracted various interest from a number of developers.
According to its marketing agent, the Colliers, the property has a land area of 104,532 square feet and has an excellent opportunity to be a new home to a luxurious residential development.
The current unit owners will be receiving an estimated cost of around $2.78 million to $11.5 million. This price range sums up to $401.9 million for the total cost. The victory goes to the winning bidder, the Japura Development which is a subsidiary of Cheung Kong Holdings, a Hong Kong property group owned by Mr. Li Ka-shing.
City Towers is sold with a 13% excess from its asking price which proved that the site exhibits a promising future to various developers. The tender sale ended on February 7 and has invitingly attracted seven developers according to its marketing agent.
CITY TOWERS LOCATION
The City Towers is located in the Bukit Timah area known as 325 Bukit Timah Road. This site is within a short distance from amenities that are vitally important for the residents. This area in District 10 proves that it has plenty of amenities that the residents will surely enjoy and find convenient.
Reputable schools are within a very accessible distance to the site. Within a few minutes of walking are schools like ACS Barker Road, Little Hands, Barker Road Kindergarten and Anglo-Chinese School (Primary). A short drive leads to schools like Catholic Junior College, Zee Playhouse, Far Eastern Bible College, Singapore Chinese Girls’ School, St. Joseph’s Institution and Raffles Girls’ School.
The distance of various shopping malls is within a short drive away. Malls like United Square Shopping Mall, Square 2, Balestier Hill Shopping Centre, Velocity @ Novena Square, Serene Centre, Tanglin Mall and Orchards Towers is within a 5 to 20-minute drive from the property.
Residents of City Towers will also have the privilege of being near a few nature parks such as the Malcolm Park, Singapore Botanic Gardens, and Toa Payoh Town Park.
The connection of the property to the different locations is made easily by major routes like the Dunearn Road, Pan Island Expressway (PIE), Adam Road and Central Expressway (CTE). The convenience is also aided by MRT stations like Newton and Stevens MRT.
MODE OF TRANSPORT
- Newton MRT
- Stevens MRT
- Central Expressway (CTE)
- Pan Island Expressway (PIE)
NEARBY AMENITIES
- United Square Shopping Mall
- Newton Food Centre
- Tan Tock Seng Hospital
- Catholic Junior College
POTENTIAL OF THE SITE
The City Towers site is huge and measures a staggering 104,532 square feet. With this land area, it is zoned as residential by the Master List Plan 2014 by URA. It has an allowable Gross Floor Area (GFA) of 219,516 square feet, allowing it to hold 190 unit homes with an average of 1,098 square feet in size.
About 24 storeys can be build in the area considering its gross plot ratio of 2.1. This said, the future development will be a luxurious and capacious as you can imagine.
City Towers can also attract a large number of potential buyers and renters due to its location near the key areas of the country. This reason alone will surely benefit not only the developers but also to property investors as it can yield an excellent timing for ROI.
Property-seekers will be able to reach their needed amenities within a short period of time. Various routes as well as public transport are readily available to the convenience of the future inhabitants.
Colliers, the marketing agent for City Towers en bloc said that the procedure went smoothly and easily.
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City Towers
City Towers is a residential block located in a prime area along Bukit Timah Road in District 10. This property is comprised of 77 units of apartments and maisonettes, including a penthouse and a shop. The property is built during the 1960's. Launched into tender on January 4, 2018, with a reserved price of $355 million.
Product SKU: City Towers
Product Currency: SGD
Product Price: 401900000
Product In-Stock: InStock
