Greenlodge Condo up for en bloc sale, with $135m asking price
Dec 31, 2009 - PropertyGuru.com.sg
Owners at Greenlodge Condominium in Toh Tuck Road launched its freehold estate for en bloc sale. This was prompted by the improving property market.
They are asking for $135 million for the site, which translates to $683 per square foot per plot ratio (psf ppr), including the development charge.
The 14,000-sq-ft freehold land currently comprises 80 units.
Newman & Goh, the marketing agent of Greenlodge Condo, believes that the site can be potentially redeveloped to 211 units of boutique apartments at an average size of 1,000 sq ft.
Newman & Goh expects to fetch no less than $1250 per sq ft for this new development project.
The collective tender for the site will close on January 13, 2010.
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