In the first Enbloc deal of 2021, 2, 4 and 6 Mount Emily Road was sold for S$18 million in March 2021 to ZACD Group, a Hong Kong-listed, Singapore-headquartered integrated asset manager.
The three adjoining buildings sit on a total site area of about 5,549 sq ft with an existing gross floor area of some 16,138 sq ft. The site is zoned for residential use with a 2.1 plot ratio, under the Urban Redevelopment Authority's Master Plan 2019.
The land plot was first launched for enbloc in June 2020 for S$24 million, which was then later relaunched in Jan 2021 with a guide price of S$18 million.
5 Mar 2021
Separately, a trio of freehold, three-storey residential properties at 2, 4 and 6 Mount Emily Road has changed hands for S$18 million.
This is the first collective sale in Singapore in 2021, Edmund Tie & Co told BT.
The buyer is ZACD Group, a Hong Kong-listed, Singapore-headquartered integrated asset manager.
The three adjoining buildings sit on a total site area of about 5,549 sq ft with an existing gross floor area of some 16,138 sq ft. The site is zoned for residential use with a 2.1 plot ratio, under the Urban Redevelopment Authority's Master Plan 2019.
The sale price of S$18 million reflects a land rate of S$1,115 psf ppr, with no development charge payable due to the high development baseline, said Swee Shou Fern, executive director of investment advisory at Edmund Tie.
New guide price is 25% lower than previous; translates to S$1,115 psf
19 Jan 2021
A FREEHOLD residential block located at 2, 4 and 6 Mount Emily Road has been relaunched for collective sale by tender by Edmund Tie & Company with a guide price of S$18 million.
This is down 25 per cent from the S$24 million guide price during its initial launch in June 2020.
This translates to about of S$1,115 per square foot (psf) on the existing gross floor area (GFA) as opposed to S$1,485 psf previously.
In an updated press statement on Monday, the agent's executive director of investment advisory, Swee Shou Fern, said the new indicative price "compares favourably" to the recently-transacted collective sale of Fairhaven and Sophia View at a combined land price of S$1,158 per square foot per plot ratio (psf ppr) and collective sale of Casa Sophia at S$1,120 psf ppr.