Fairhaven in District 9 up for Collective Sale
By Esther Hoon
/ JLL |
Fairhaven, a freehold residential development at Sophia Road in District 9, has been launched for its first collective sale on 2 June 2015. The 15-storey development has an estimated land area of 16,660 sq ft and a gross plot ratio of 2.1. The asking price is understood to be above $45 million or $1,169 psf ppr based on the gross floor area including an additional 10 per cent bonus balcony not subjected to development charge. This translates to an estimated breakeven and selling price of at least $1,950 psf and $2,340 psf respectively. The last transaction recorded for Fairhaven was for a 1,582 sq ft apartment which was sold in Jun 2012 at $1,093 psf.
Separately, prices of recent sales from nearby freehold developments averaged $1,778 psf. JLL is the sole marketing agent for the project. The tender will close on 1 July 2015 at 3pm.
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