THREE adjoining mixed-use redevelopment sites at 551 to 553 Bukit Timah Road, 6 to 8 Duke’s Road and a driveway have been put on the market via collective sale with a guide price of S$62.5 million.
The freehold 16,479 square foot (sq ft) site is zoned for residential and commercial use. It has a gross plot ratio of 3.0 and an allowable height of up to five storeys under the Urban Redevelopment Authority’s Master Plan 2019, sole marketing agent JLL said on Tuesday.
Assuming 80 per cent of the gross floor area (GFA) is for residential and 20 per cent is for commercial use, the unit land price is about S$1,658 per sq ft per plot ratio (psf ppr), inclusive of development charge at the gross plot ratio of 3.0.
After factoring in an additional 7 per cent bonus GFA for balconies for the residential component, the unit land rate will fall to S$1,621 psf ppr, inclusive of development charge.
source: The Business Times