The huge residential redevelopment site at Singapore East Coast Avenue with freehold tenure has been offered for sale via a tender exercise, marketing agent Knight Frank Singapore announced.
The 45,249 sq ft site is well located in the East Coast area and presently made up of 2-storey bungalow which was constructed about 40 years ago.
The large residential site poses two contiguous lots on a regular-shaped plot. It is a 3-storey integrated landed area, zoned residential under the 2014 Master Plan.
Seller is expecting a $52 million excess of offers, or $1,149 psf on the land, Knight Frank stated.
According to Mr Ian Loh of Knight Frank, the property is extremely rare featuring a large freehold plot to be sold at $52 million, it is also the largest transaction of landed property on District 15 since 2010 after the Fort Terrace which sold for $86 million.
The East Coast Avenue site is close to Singapore Property such as Marine Blue and Terra Villas. It is also near to Siglap MRT stations and short drive away to Siglap Shopping Centre and Parkway Parade.
