Fifteen two-storey terrace houses along Guillemard Road and Jalan Molek have been put up for sale by a single owner, announced marketing agent Cushman & Wakefield on Feb 21.
The houses, which can be combined to form a 9999-year leasehold residential redevelopment site of about 37,131 sq ft, have an aggregate asking price of $99 million.
Under the 2014 Master Plan, the redevelopment site is zoned “Residential/Institution” with a plot ratio of 2.8. While its baseline gross floor area is 77,071 sq ft, it has the potential to be redeveloped into a new project with allowable gross floor area (GFA) of about 114,364 sq ft, including 10% bonus balcony GFA.
(Credit: Cushman & Wakefield)
Based on the gross floor area of 114,364 sq ft, the land cost translates to $993 psf per plot ratio (ppr). That includes an estimated development charge (DC) of $14.6 million to include 10% bonus balcony GFA in the redevelopment.
Provisional permission has been obtained for the proposed erection of a part five- and part eight-storey residential development with attic, comprising a total of 137 units, a carpark at the first storey and basement levels, a swimming pool at the second storey, and landscape roof at the sixth storey, says Cushman & Wakefield.
The tender closes on Mar 20.
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