Haig Mansions, a freehold development at Haig Road, has been put up for sale by tender by property consultants Credo Real Estate.
The owners of Haig Mansions are asking for more than $21 million, which works out to about $746psf ppr for the 16-unit apartment building.
The site, which has an allowable height of up to five storeys and a land area of 20,226sqft, can yield as many as 45 apartments, averaging 600sqft each.
Credo said more than 80 per cent of the owners have already consented to the en bloc sale.
Credo's executive director Yong Choon Fah said the site is close to the Paya Lebar Central, which has been earmarked by the government to be developed into a commercial hub with offices, retail, hotel and public spaces.
The tender will close on May 11.
Source: TODAYonline
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