Gerald Crescent Redevelopment Site Up For Sale For $25mil
A revamping plot at 2F Gerald Crescent was released up for sale over offer utilizing a lead deal of $25 million, shared sole marketing rep ET&Co.
The price calculates to approximately $785 psf accorded to the spot’s area of 31,882 sq foot.
Discovered among the Seletar Hills landed home grounds, the 9hundred 99 years rental plot is utilized by a bare bungalow.
The typical shaped site, which is sector for 3 storey combined landed house under the 2K19 Master Plan, is accommodated for “a wide range of landed homes options and also mixes”, said the marketing and advertising agent.
The land is close-by Sungei Punggol river and also the Punggol Park Connector. Edmund Tie kept in mind the fact that arrangements are advancing “to reconstruct the nearby Punggol Reservoir in the direction of through to a purposeful spot for pastime water play as section of the current Master Plan”.
Eating, buying also leisure facilities among the area are The Seletar Mall, Greenwich V, The Oval @ Seletar Aerospace Park along with Seletar Country Club.
The residence is at the same time close-by multiple colleges including Nan Chiau High School, Rosyth Sch, Nanyang Polytechnic, AIS also IFS.
” Substantial refitting spots for landed house are rarely obtainable. The home, which is maintained by a sole owner, also furnishes an outstanding benefit for prompt upgrading,” announced Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie.
Other than residence developers eager on redividing the spot to a number of landed homes, she additionally expects attention “from high flyer along with multi-generational households considering to buy for their own reside”.
” With limited supply of landed homes in S’pore, an expanding mode to get bigger houses as a result of work-from-home setups and even a low rate of interest situation, everyone foresee interest for landed homes to carry on high.”
The tender for 2F Gerald Crescent closes on 9 February.