Freehold apartment block on Dorset Road on the market for $22 mil
The building consists of a three-storey walk-up condo block with dual frontages along Dorset Roadway including Truro Road. It rests on a mixed site location of 11,035 sq ft. The location is zoned “non commercial” with a gross plot ratio of 1.4 under the latest Master Plan.
Primary schools throughout 1km of the development are Farrer Park Primary School and even St Joseph’s Institution Junior. Other elementary schools around are Anglo-Chinese School (Junior), Bendemeer Primary School, and also St Margaret’s Primary School.
“This spot is perfect for developers keen to build a shop domestic project situated in a relaxed non commercial enclave, yet just mins far from the buzz of events and a wide variety of facilities,” claims Tay Liam Hiap, supervising director of investment sales at ERA Real estate.
The Continuum Thiam Siew Avenue price
The bordering area generally comprises low-rise condos and landed residences. The apartment neighbors City Square Mall, United Square and even Velocity. Clinical services just like Farrer Park Hospital and KK Women’s together with Children’s Hospital are also not far away.
The tender for the revenue of 103A/B together with 105A/B Dorset Roadway are going to close on Dec 15.
This real property is less than 500m from Farrer Park MRT Terminal on the North-East Line. This terminal is one stop from Little India MRT Interchange on the Center and also North-East Lines. Road connection is through Bukit Timah Road, Serangoon Road, Balestier Road, Moulmein Road, and even the Central Expressway.
A freehold apartment block at 103A/B and also 105A/B Dorset Road has recently been sold with an indicative rate of $22 million. ERA Realty Network is the sole advertising broker for the sale of this property.
The area’s attractiveness is increased as a result of the successful launch of close-by Piccadilly Grand. The 99-year leasehold incorporated property development is a mutual property development amongst City Developments (CDL) and MCL Land. The 407-unit project was introduced in May this year, selling 77% of the total offered units and attaining a common asking price of $2,150 psf. Piccadilly Grand is around 85% sold since end-October.
According to ERA, this equates to a gross level location of 15,449 sq ft, as well as the new property development might house as much as 16 apartments with a standard dimension of 914.6 sq ft (85 sq m), subject to authorizations. The a measure rate has to do with $1,424 psf per plot ratio (ppr). After factoring in the 7% bonus gross flooring location for porches, the land price eventually becomes $1,331 psf ppr. “Due to its high historic baseline, the land betterment charge is not outstanding for redeveloping the location,” claims ERA.
“Given the latest impressive profit outcomes of Piccadilly Grand, solid need for fresh house units in the place will likely continue as there are no upcoming latest debut in the pipeline. A benefit for this revenue is that it does not need the Strata Titles Boards’ confirmation, therefore permitting the effective buyer to rapidly transform the area around moreover release the new property up for sale,” claims Tay.
