Gerald Crescent Redevelopment Site Up For Sale For $25mil
A revamping location at 2F Gerald Crescent has been released up for sale through tender by a model rate of $Twenty-five million, disclosed sole promotion and marketing representative Edmund Tie.
The price figures out to about $785 psf based upon the plot’s area of 31,882 square foot.
Found inside of the Seletar Hills landed housing acreage, the 9hundred 99 years hire agreement site is utilized by a tenantless landed property.
The ordinary shaped plot, that is region for 3 storey combined landed homes shown in the 2K19 Master Plan, is fit for “a mixture of landed home types including combinations”, revealed the marketing representative.
The land is within stone’s throw Sungei Punggol river along with the Punggol PC. ET&Co marked the fact that arrangements are on-going “to revamp the close-by Punggol Reservoir into a busy area for entertainment water functions as aspect of the current Master Plan”.
Eating, shopping also leisure features within the neighborhood include The Seletar Mall, Greenwich V, The Oval @ SAP and Seletar Country Club.
The home is furthermore close-by multiple schools consisting of Nan Chiau High School, Rosyth School, Nanyang Polytechnic, Australian International School and also IFS.
” Substantial reconditioning plots for landed homes are seldom in the market. The residential property, that is lasted by a solo property owner, furthermore gives an exceptional opportunity for instant redevelopment,” claimed Ms Swee, ED of Inv Advisory over at Edmund Tie.
Apart from residential builders interested on redividing the plot to several landed houses, she likewise foresees enthusiasm “from HNW or even multi-generational households considering to purchase for their personal stay”.
” By having constrained number of landed homes in S’pore, a developing trend for bigger properties because of the work-from-home plans plus a reduced rate of interest atmosphere, everyone look forward to need for landed housing to stay high.”
The tender for 2F Gerald Crescent discontinues on 9 Feb.