The Estoril, a boutique 44-unit freehold condominium located on Holland Road in prime District 10, has been put up for collective sale. The guide price for the freehold site of 84,600 sq ft is $220 million, which translates to a unit price of $1,478 psf per plot ratio (psf ppr).
The site has been zoned “Residential” with a plot ratio of 1.6, and therefore can be redeveloped into a new condominium with a gross floor area (GFA) of 148,896 sq ft. This translates to a new condominium project of 166 units, assuming an average size for the new units to be 900 sq ft each. The project is marketed by CBRE, and the tender will close on April 3.
(Credit: CBRE)
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