Harbour View Gardens, a freehold residential site in Pasir Panjang, has been put up for collective sale.Its marketing agent Colliers International said indicative price for the site is between $36 million and $38 million, which works out to be between $836 and $883psf ppr.
Harbour View Gardens comprises a total of 14 units and is located on a site measuring about 30,745sqft.
Colliers said there are seven maisonettes with an average floor area of 2,411sqft each and seven walk-up apartments with an average floor area of 1,195sqft each.
Upon success of the collective sale, each owner could receive between $1.6 million and $3.6 million, according to Colliers.
Under the 2008 Master Plan, the subject site is zoned for "Residential" use, with a gross plot ratio of 1.4, with an allowable building height of up to five storeys.
Colliers added that subject to approval from relevant authorities, the successful buyer could re-develop the site to accommodate a five-storey residential development comprising some 50 units of 775sqft each.
The tender will close on May 16, 2012, at 12.00 pm.
Source: Channel News Asia
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