The owners of Sutton Place, a freehold development off Farrer Road, have put the property up for collective sale by tender, with a reserve price of $268 million.
At that price, the land rate for the site works out to $1,917 per square foot per plot ratio, after factoring a development charge of about $17.88 million, which is subject to confirmation from the relevant authorities, said Knight Frank Singapore, its sole marketing agent.
Located 500m from Farrer Road MRT station, the five-storey development comprises 44 apartments on land measuring about 93,185 sq ft …..