The 4-storey block of 24 apartments on Haig Road (Haig Road Flats) was sold in Apr 2022 via enbloc for S$49.3 million, above the owners' asking price of S$48 million.
The sale price translates to a land rate of S$1,286 per square foot per plot ratio for the 27,389 square foot site with a gross plot ratio of 1.4. No development charge was payable.
The winning bid was made by Nanshan Group, the developer of projects such as Thomson Impressions and Stirling Residences.
Many new residential launches will be appearing within the same area:
Winning bid made by Nanshan Group, developer of projects such as Thomson Impressions and Stirling Residences
9 Apr 2022
A FREEHOLD residential site comprising a 4-storey block of 24 apartments on Haig Road has been sold for S$49.3 million, above the owners' asking price of S$48 million, said sole marketing agent Colliers on Friday (Apr 8).
The sale price translates to a land rate of S$1,286 per square foot per plot ratio for the 27,389 square foot site with a gross plot ratio of 1.4. No development charge is payable.
The winning bid was made by Nanshan Group, the developer of projects such as Thomson Impressions and Stirling Residences.
The regular-shaped redevelopment site is a corner plot with dual frontage on Haig Road and Seraya Lane.
It is in close proximity to lifestyle amenities at Katong Shopping Centre, I12 Katong and Paya Lebar Commercial Hub as well as schools such as Tanjong Katong Primary School, Haig Girls' School, Tanjong Katong Girls' School, Chung Cheng High School and Canadian International School.
The site is accessible via Mountbatten Road, Tanjong Katong Road, Kallang-Paya Lebar Expressway and East Coast Parkway.
"This site has achieved a lot of buzz as it is a unique enclave that is conveniently located," said John Bin, Colliers Singapore's director of capital markets and investment services, adding that the property was shown to numerous prospective bidders.
"Eventually, we were able to secure a price that is above the reserve price for the owners."
The sale is subject to Strata Titles Board's approval.
2 March 2022
A BLOCK of 24 flats along Haig Road will be put up for collective sale via tender with an indicative price of S$48 million on Thursday (Mar 3), sole marketing agent Colliers announced on Wednesday.
The freehold residential development sits on 27,389 square feet (sq ft) of land with a gross plot ratio of 1.4. This translates to S$1,252 per square foot per plot ratio (psf ppr).
According to Colliers, the 4-storey site can be redeveloped to house 35 units, each of an average size of 1,100 sq ft, subject to approval from relevant authorities. The property also has no development charge payable, Colliers added.
"This site offers an attractive opportunity for developers to construct a boutique development in an exclusive and tranquil environment that is near major amenities," said John Bin, Colliers Singapore's director of capital markets and investment services.
Located at the junction between Haig Road and Seraya Lane, the site is accessible through Mountbatten Road, Tanjong Katong Road, Kallang-Paya Lebar Expressway (KPE) and East Coast Parkway (ECP).
Within the property's 1-kilometre radius are educational institutions including Tanjong Katong Primary School, Haig Girls' School, Tanjong Katong Girls' School, Chung Cheng High School and Canadian International School. Leisure sites such as Kinex, I12 Katong, Parkway Parade, Dunman Food Centre and East Coast Park are also in its vicinity.