This 14-unit freehold condo along Upp East Coast Rd (and close to the upcoming Bayshore MRT and new Bayshore precinct) was actually sold enbloc to TEE Land in June 2018. However, the deal was called off in early July 2018, immediately after the govt announced a new set of cooling measures. All 14 owners had agreed to the sale. As such, this condo may have enbloc potential in the next enbloc cycle.
The purchase price for the 42,290 sq ft site was $60 million at an estimated $1,300 psf per plot ratio (psf ppr). The site has a plot ratio of 1.4, and can be redeveloped into a new condominium project of about 70 units, according to ERA which brokered the sale. If the deal had gone through, the owners would have walked away with $4.285 million each.
Tee Land buys Teck Guan Ville
Teck Guan Ville’s collective sale to Tee Land called off
BEFORE YOU LEAVE …
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Mike Tan | CEA Regn R059706Z | 98280030