Gerald Crescent Redevelopment Site Up For Sale For $25mil
An upgrading site at 2F Gerald Cres. was introduced for sale by bidding using a model price of $Twenty Five million, published single marketing agent ET&Co.
The price calculates to more or less $785 psf based on the site’s space of 31,882 square ft.
Found within the Seletar Hills landed homes acreage, the nine hundred ninety nine years tenancy spot is utilized by an abandoned landed property.
The normal shaped plot, that is zoned for 3 levels different landed housing under the 2019 Master Plan, is suited for “a wide range of landed housing forms and combinations”, stated the marketing and advertising agent.
The land is close-by Sungei Punggol river additionally the Punggol Park Connector. Edmund Tie wrote that plannings are in progress “to modify the nearby Punggol Reservoir in to an active spot for recreational water activities as section of the latest Master Plan”.
Dining, buying also recreational amenities inside of the neighborhood contain The Seletar Mall, Greenwich V, The Oval @ Seletar Aerospace Park also Seletar Country Club.
The residential property is at the same time close-by a variety of colleges such as Nan Chiau High School, Rosyth School, Nanyang Polytechnic, AIS and also IFS.
” Sizable improving sites for landed homes are hardly available. The house, that is held by a single homeowner, definitely presents a remarkable venture for immediate upgrading,” reported Ms Swee, ED of Investment Advisory in ET&Co.
In addition to home construtors intent on redividing the site to several landed homes, Ms Swee too expects enthusiasm “from HNW and also multi-generational homes considering to purchase for their personal live in”.
” With limited quantity of landed home in SG, an evolving trend for larger properties because of the work-from-home setups and a low interest rate situation, everyone predict interest for landed home to continue to be sturdy.”
The bid to get 2F Gerald Crescent discontinues on 9Feb 21.