Spanish Village’s collective sale tender was launched on 4 June 2018, with closing date of 18 July. However, there were no takers due to the 5 July cooling measures. The tender was re-launched again on 19 Oct, with closing date of 20 Nov that same year. As at date of this writing, there have been no news.
Spanish Village is a freehold residential site along Farrer Road in D10 that was built in the 1980s, and comprises 226 apartments. It has a site area of 30,793.4 square metres (sq m) or 331,457 square foot (sq ft) Under Master Plan 2014, the site is zoned for Residential use with a gross plot ratio (GPR) of 1.6.
The asking price was $882m, which reflects a land rate of $1,721 per sq ft per plot ratio (psf ppr) inclusive of a development charge of approximately $30m.
Note that a Pre-Application Feasibility Study (PAFS) was carried out by an appointed traffic consultant and an in-principle approval of 703 units was obtained from LTA on 6 September 2018 after the first tender closed on 18 July 2018.
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Mike Tan | CEA Regn R059706Z | 98280030