The 8-unit Freehold East Court along Koon Seng Road was first put up for enbloc in Sep 2018 at a guide price of $19m, which translates to S$1,031 per square foot per plot ratio (psf ppr).
Subsequently in June 2022, the development was successfully sold via a private treaty to Macly Group for a higher price of $19.875m, equivalent to $1,063 psf per plot ratio.
Macly is reportedly planning to redevelop the site into a five-storey development with 19 residential units.
21 June 2022
East Court, a freehold apartment located at Koon Seng Road in District 15’s Joo Chiat area, is being sold via private treaty to developer Macly Group for $19.875 million. The option for the transaction was exercised on June 20, according to William Gan, managing director at WGR Property Consultants, who brokered the deal. The sale price translates to a land rate of $1,063 psf per plot ratio.
East Court is a low-rise walk-up apartment that was completed in 1986. It sits on a land site measuring 13,351 sq ft with a gross plot ratio of 1.4. The eight units available at the development are housed in a single four-storey block, with sizes ranging between 1,500 to 1,700 sq ft.
Guide price works out to S$1,031 psf ppr including development charges
11 Sep 2018
EAST Court is the latest development here to go en bloc.
The eight-unit, 13,351 sq ft development in Koon Seng Road, near Dunman Road, was put on the market for S$19 million on Monday.
Owners could stand to get S$2.375 million a unit, should the sale go through at that price.
The freehold development has achieved 100 per cent consensus from its owners, which means there will be no need for Strata Titles Board approval, said marketing agent Orangetee & Tie in a statement.
The guide price of S$19 million translates to S$1,031 per square foot per plot ratio (psf ppr) including development charges and based on the residential site's 1.4 gross plot ratio. The buyer can choose to take advantage of the 10 per cent balcony bonus.