The ST today reported that Amber Towers, a 35-year-old residential project in the Katong area, is being put up for collective sale.
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The freehold project has an indicative guide price of $168 million to $172 million. This works out to between $1,152psf ppr and $1,180psf ppr. No development charge is payable.
Amber Towers is in Amber Road and comprises 54 apartments distributed in two towers.
The plot measures 40,708sqft and has a permissible plot ratio of 2.8.
The site can be redeveloped into a high-rise condominium with a gross floor area of 145,813sqft, subject to confirmation by the relevant authorities.
It could yield about 110 units, each about 1200sqft in size.
This is the first time Amber Towers has attempted to mount a collective sale.
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