Gerald Crescent Redevelopment Site Up For Sale For $25mil
An upgrading spot at 2F Gerald Cres. has been introduced for sale by bidding utilizing a lead amount of $25 million, published sole marketing and advertising agent ET&Co.
This calculates to around $785 per square foot based upon the plot’s space of 2,962.0 square m.
Placed inside of the Seletar Hills landed house acreage, the 9hundred 99 years tenancy plot is utilized by a tenantless bungalow.
The traditional shaped location, which is zoned for 3 levels blended landed housing mentioned in the 2K19 Master Plan, is suited for “a wide range of landed housing categories plus mixes”, reported the promotion agent.
It is near Sungei Punggol river including the Punggol Park Connector. Edmund Tie kept in mind the fact that arrangements are in progress “to renew the surrounding Punggol Reservoir in to an active spot for leisure water activities as part of the present Master Plan”.
Dining, purchasing and also recreational amenities among the proximity consist of The Seletar Mall, Greenwich V, The Oval @ SAP and Seletar Country Club.
The home is definitely near various educational institutions including NCHS, Rosyth Sch, NYP, AIS and International French School.
” Sizable improving sites for landed housing are rarely obtainable. The residential property, which is kept by a solo property owner, at the same time furnishes an exceptional venture for current reconditioning,” said Swee Shou Fern, Executive Director of Investment Advisory at Edmund Tie.
Other than house creators eager on parting the spot to numerous landed homes, Shou Fern at the same time anticipates attention “from high-net worth and also multi-generational family groups planning to buy for their own stay”.
” By having constrained supply of landed homes in SG, a developing pattern for larger properties caused by work-from-home options and even an affordable interest rate situation, we predict demand for landed property to remain stable.”
The offer to get 2F Gerald Crescent seals on 9February 2021.