Dynasty Garden, a freehold redevelopment site in District 10, along with its adjoining plot, have been launched for sale through a public tender.
Located along Sixth Avenue, Dynasty Garden currently comprises 33 walk-up apartments with unit sizes of between 97 sq m and 242 sq m. Knight Frank, the property’s sole marketing agent, said it has a price tag of S$105 million (around S$1,432 psf), based on a land area of 6,809.8 sq m.
Knight Frank noted that owners can expect sale proceeds of between S$2.8 million and S$5.4 million.
Meanwhile, the adjoining site, 21 Lim Tai See Walk, has a total area of 1,179 sq m and a guide price of S$17 million, which translates to around S$1,340 psf.
When combined, the two sites offer a total land area of 85,991 sq ft and both sites are zoned for a “three-storey mixed landed” development.
Knight Frank said that based on prevailing guidelines for strata landed developments, 38 strata semi-detached houses and 52 strata terrace houses can be developed on the combined area.
“The prestigious District 10 address provides an excellent opportunity for developers to build unique and luxurious cluster homes. It is also enhanced by its strategic location to the nearby Holland Village and numerous reputable schools,” Knight Frank said.
Tenders for both sites will close on 5 October 2011. Buyers can opt to bid for the combined sites or either one.
Source : PropertyGuru – 6 Sep 2011
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