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Haig Lane – Casuarina Properties has sold a 25,054 sq ft freehold site at the Haig Road/Haig Lane intersection for $32.8 million to a partnership that comprises companies connected to Nobel Design’s Terence Goon, Lian Huat Group’s Patrick Kho, and 2E Capital’s David Ong and Von Lee.
A three-story building with ten terrace homes and a cottage presently stands on the District 15 site. The development, which was completed 25 years ago, was upgraded around 10 years ago. Promising developments at District 15 includes the Parq Bella which is developed by the renowed Kims Land @ E C Pte Ltd.
The majority of the landed homes are leased, with leases ending between now and early 2022.
The $32.8 million price for Haig Lane Landed includes a development fee (DC) of approximately $264,602, resulting in a land cost of $943 per sq ft per plot ratio (psf ppr).
If the developer uses the 7% extra gross floor space for balconies, the price may drop to $924 psf ppr (including $1.86 million DC).
The planned residential project would be launched by Q4 2021, according to Lee of 2E Capital, who is also the Construction’s Managing Director.
The Lee Foundation, as well as members of the Lee family, own Casuarina Properties.
Haig Lane Road Location
The location for Haig Lane Landed is between two elementary schools, Haig Girls’ School and Tanjong Katong Primary School, and is just across from Tanjong Katong Secondary School.
Potential of the Site
Haig Lane Landed property, which has a gross plot ratio of 1.4 and is designated for residential use in the 2019 Master Plan, may be converted into a five-story low-rise apartment building. It may include up to 32 residential units, each measuring 100 square meters.
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Haig Lane
Casuarina Properties has sold a 25,054 sq ft freehold site at the Haig Road/Haig Lane intersection for $32.8 million to a partnership that comprises companies connected to Nobel Design’s Terence Goon, Lian Huat Group’s Patrick Kho, and 2E Capital’s David Ong and Von Lee.
Product SKU: Haig Lane
Product Currency: SGD
Product Price: 32800000
Product In-Stock: InStock
