Chancery Esquire up for sale at $86.6 mil
By Bong Xin Ying
/ EdgeProp |
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Chancery Esquire, located along Chancery Lane, is up for collective sale at a reserve price of $86.6 million, according to marketing agent Knight Frank Singapore. Due to the high as-built gross floor area (GFA) of 48,188 sq ft, the reserve price translates into a land rate of approximately $1,797 psf per plot ratio with no development charge payable, and is subject to URA’s development baseline search.
The 31-unit Chancery Esquire on Chancery Lane is up for collectve sale (Credit: Knight Frank Singapore)
Chancery Esquire is a private residential estate comprising a block of 31 apartment units ranging from 904 sq ft to 1,701 sq ft, and has a site area of about 29,022 sq ft. The site is regular with 50 metres’ frontage onto Chancery Lane.
Under the 2014 Master Plan, the site is zoned “residential”, with a gross plot ratio of 1.4. Based on the GFA of 48,189 sq ft and assuming an average unit size of 753 sq ft, the site could potentially yield 63 new residential units upon redevelopment.
A Pre-Application Feasibility Study on traffic impact will not be required for the site.
Chancery Esquire is nestled within the Chancery estate, between Newton MRT Station and Novena MRT Station.
The tender for Chancery Esquire will close on August 2.
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