Collective sale of Tanjong Katong development relaunched at $63 mil
Huttons Asia has re-launched a 26-unit walk-up development at 52 to 62H Tanjong Katong Road with a guide price of $63 million. Located in District 15, the property has a land area of about 32,397 ft and is zoned for residential use with an allowable gross plot ratio of 1.4 under the 2019 Master Plan.
This could potentially yield approximately 45,356 ft of gross floor area upon redevelopment, with the potential to have 49 residential apartments with an average size of 915 sq ft. At a guide price of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000, the land rate could be further reduced to $1,375 psf ppr by factoring in a 7% bonus balcony.
Terence Lian, head of investment sales at Huttons Asia, expects there to be keen interest from developers given the recent brisk sales at nearby Tembusu Grand, a …