St. Francis Court, a 99-year leasehold apartment at 90 Saint Francis Road in district 12, has been put up for collective sale. The development has a $95 million price tag and if the sale is successfully at that price, owners are expected to walk away with $1 million to $1.5 million each, says marketing agent ERA Realty Network.
St Francis Court has launched a collective sale attempt with a $95 million price tag (Picture: ERA)
The development sits on a 34,111 sq ft site which has a plot ratio of 2.8 under the 2014 Master Plan, and currently comprises 71 units in an 11-storey block. The site has 73 years left on its lease, and the premium to top up the lease is expected to cost from $9 million to $15 million. The site can be redeveloped to yield 100 to 120 units, and a pre-application feasibility study is also not required.
The public tender will open on Oct 18, and close on Nov 29.