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A 9,999-12 months leasehold web-site at Tanjong Katong will be set up for sale by serious estate company Huttons Asia Pte Ltd, for an indicative price tag of S$65.5 million.
According to a media launch by Huttons Asia, the internet site houses an existing 4-storey wander-up advancement stretching from 56 to 62H Tanjong Katong Street and has been set up for collective sale.
It will be produced for sale on Jul. 5, 2022, with the tender anticipated to close on Aug. 23, 2022, at 2pm.
Marked as household web-site
The internet site has a land region of 3,009.8 m² (about 32,397 sq ft).
In accordance to the URA Learn System 2019, the developments are meant for household enhancement, with an allowable gross plot ratio of 1.4, which interprets to a very small density.
The internet site has a 9,999-calendar year lease, which is rare in Singapore.
9,999-yr leasehold and 999-year leasehold homes are normally assumed to have equivalent benefit to freehold attributes in the Singapore context.
With a 9,999-calendar year lease, a house can fundamentally be handed on for several generations.
Singapore has stopped granting new 999-12 months leases, according to Assets Guru, and the most frequent lease is now the 99-12 months leasehold tenure.
According to the media launch, the land can generate 4,213.72 m² (about 45,356 sq ft) of gross ground spot on redevelopment, which would translate to a land level of S$1,454 value per sq ft for every plot ratio.
Redevelopment of the website can yield 49 residential residences with an common size of 85 m². It could also be developed into serviced apartments, matter to acceptance from the URA.
The models are conveniently found near Paya Lebar MRT Station, an interchange station on the East-West Line (EWL) and Circle Line (CCL).
A number of searching malls and features, this kind of as PLQ Shopping mall, Kinex, i12, and Parkway Parade, are also in the location.
Major image via Google Maps