About 90% of the owners have consented to the collective sale at a minimum price of $102 million
Kismis View, a collective sale site on Lorong Kismis in Upper Bukit Timah, has been launched for sale by tender, announced sole marketing agent JLL.
About 90% of the owners have consented to the collective sale at a minimum price of $102 million. At the minimum price, along with an estimated differential premium of about $23 million (subject to confirmation on the development baseline), the land cost translates to about $983 psf per plot ratio.
The 43-unit condo comprises two four-storey and seven-storey apartment blocks. The property sits on an elevated 99-year leasehold site with a balance lease of about 64 years. The 90,863 sq ft site is zoned for residential use under the 2014 Master Plan, with a gross plot ratio of 1.4.
According to JLL, the site can be redeveloped into a low-rise apartment development of up to five-storeys, with a total gross floor area of about 139,929 sq ft, including a 10% bonus balcony area. Based on the minimum average size of 70 sqm, the maximum number of units is 168.
The tender will close on Jan 17 2018.
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