A small freehold development at Robin Road, off Bukit Timah Road, has been put up for sale with an expected selling price of $58 million.
Under the 2008 Master Plan, the site is zoned for residential development at Gross Plot Ratio (GPR) of 1.4, with an allowable building height of up to five storeys.
The site is being marketed by Credo Real Estate.
It added that a development charge is not payable for the redevelopment of the site up to the allowable plot ratio of 1.4 plus 10% balcony Gross Floor Area (GFA).
The total GFA allowed is approximately 35,550sqft, including 10% GFA for balcony space. The site may be configured into approximately 56 apartment units with an average size of 600sqft, depending on layout and configuration.
The land rate works out to be approximately $1,782psf ppr at GPR of 1.4, or $1,620psf ppr at GPR of 1.54.
The tender for the property closes at 2.30 pm on October 5.
Source: Channel News Asia
The wife and I reckon that this is probably another one of those that will garner a favorable result...
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