United Mansion up for sale at $98 million
By Charlene Chin
/ EdgeProp Singapore |
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The 48-unit United Mansion, located at 592 to 614 East Coast Road, has been launched for collective sale. Completed in 1968, the low-rise apartment block sits on a freehold site of 55,275 sq ft, and can be developed into a new, four-storey development with gross floor area of 65,975 sq ft. This means it can be redeveloped into a new 87-unit boutique condominium, assuming an average size of 70 sq m (753 sq ft).
United Mansion can be redeveloped into a new condominium with 87 units (Credit: Cushman & Wakefield)
The property is located within close proximity of popular schools such as Ngee Ann Primary School, CHIJ Katong Convent, Victoria Junior College, St Patrick’s School and Global Indian School. It’s also near 112 Katong and Parkway Parade shopping centre. The popular eateries and shops in the heritage area of Joo Chiat, Katong and Siglap are also nearby.
United Mansion has a reserve price of $98 million, which translates to a land rate of $1,485 psf per plot ratio. “There is a limited supply of freehold, low-rise, residential sites in the Siglap/Frankel Estate neighbourhood,” notes Christina Sim, director of capital markets at Cushman & Wakefield, the marketing agent for United Mansion. The tender will be closed on May 9.
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