WATTEN Estate Condominium (WEC) at Shelford Road has been put up for collective sale via tender with a minimum price of S$500 million, said marketing agent JLL.
Spanning 220,241 square feet, the freehold elevated site is zoned residential with a gross plot ratio of 1.4 and an allowable height of up to five storeys.
More than 80 per cent of the owners have consented to the collective sale.
At the minimum price, this amounts to about S$1,622 per square foot per plot ratio (psf ppr), or S$1,570 psf ppr after factoring in an additional 8 per cent bonus gross floor area and the corresponding development charge.
The property comprises 104 units of townhouses and apartments built around 1983. According to JLL, it can be redeveloped into 286 units based on the mandatory minimum average size of 100 sqm.
source: The Business Times