THREE adjoining mixed-use redevelopment sites at 551 to 553 Bukit Timah Road, 6 to 8 Duke’s Road and a driveway have been relaunched for sale with a lower guide price of S$53.8 million, sole marketing agent JLL said on Monday (Oct 25).
This translates to S$1,502 per square foot per plot ratio (psf ppr), inclusive of development charge at a gross plot ratio of 3.0. It also assumes 60 per cent of the gross floor area (GFA) will be for residential and the remaining 40 per cent for commercial use.
Previously, the plots had a guide price of S$62.5 million when launched for collective sale in January 2021, translating to S$1,658 psf ppr. This was assuming 80 per cent of GFA was for residential and 20 per cent was for commercial use.
All owners have agreed to the collective sale of their respective developments, which means no Strata Titles Board application for a sale order is needed.
The freehold 16,479 square foot (sq ft) site is zoned for residential and commercial use. It has an allowable height of up to 5 storeys under the Urban Redevelopment Authority’s Master Plan 2019.
The plot at 551 to 553 Bukit Timah Road has a land area of 7,727 sq ft, while the site at 6 to 8 Duke’s Road, together with the driveway, has a land area of 8,752 sq ft.
source: The Business Times