East Court enbloc to Macly Group for $19.9m

About East Court Collective Sales

This freehold apartment building, East Court, is situated on Koon Seng Road in the Joo Chiat neighborhood of District 15 and is being sold to developer Macly Group through private treaty for $19.875 million. William Gan, managing director of WGR Property Consultants, said that the deal was exercised on June 20. According to the price per square foot, or psf, the land value is $1,063.

Apartments at East Court are located in a low-rise building and were built in 1986. It has a 13,351-square-foot piece of land with a gpr of 1.4. The development’s eight apartments, which range in size from 1,500 to 1,700 square feet, are all located in a single, four-story building.

 

Potential of the Site

Macly allegedly has plans to turn the property into a five-story building with 19 apartments. The freehold property is near Joo Chiat Road, where there are several dining and shopping options. Several shopping centers, including Parkway Parade, i12 Katong, and Katong V, Katong Shopping Centre, are within easy driving distance. Dunman Food Centre, East Coast Park and 85 Marine Parade Central Market are also conveniently located nearby.