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Nicon Gardens’ collective sale tender to be launched at S$110m

Mon, Mar 05, 2018

NICON Gardens, a 99-year leasehold strata landed development located at Choa Chu Kang Road, will be launched for collective sale this Thursday, with owners expecting at least S$110 million.

Its appointed marketing agent ERA Realty said that the collective sales committee is expecting strong interest from developers as there has not been any government land sales for landed housing in Singapore over the past few years, especially in the vicinity.

The development currently consists of 47 units of townhouses, with each unit expected to yield sale proceeds of S$2.3 million based on the reserve price.

The site, which has 62 years left on its lease, sits on an elevated land with a site area of close to 164,470 sq ft, and is zoned 3-storey semi-detached landed housing under Master Plan 2014.

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