Business

5 freehold residential sites for sale with value exceeding $1.2b

Sole marketing agent JLL has launched five freehold residential sites for collective sale with a total value exceeding $1.2 billion.

The five sites are Cavenagh Gardens off Orchard Road, Flynn Park in Pasir Panjang, Rosalia Park near Serangoon Central, La Ville in Tanjong Rhu Road, as well as the joint sale of three single-storey detached houses at Lorong H Telok Kurau.

The three houses in Telok Kurau are owned by three families and do not require approval from the Strata Titles Board.

Cavenagh Gardens, at a minimum price of $480 million, has the biggest price tag among the five sites, translating to a price per sq ft (psf) of $1,640. The property is located in District 9 and close to Orchard Road.

Meanwhile, the low-rise Flynn Park in Yew Siang Road, which is going for a minimum price of $363.8 million, could be developed to offer views of the sea, JLL highlighted.

Rosalia Park at Lorong Ong Lye has a minimum price of $175 million, and a new development could attract "potential upgraders" from surrounding Housing Board estates.

The high-rise La Ville in the Tanjong Rhu area has a minimum price of $152 million, or $1,540 psf. It is close to the Singapore Sports Hub and Singapore Indoor Stadium, Gardens by the Bay, as well as East Coast Park.

Finally, the minimum asking price for the three houses in Telok Kurau is $36 million to $38 million in total.

The tender closing dates for the different sites range from June 19 to 29. - THE STRAITS TIMES

Property