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Redevelopment Site at East Coast Avenue Launched for Sale by Tender

19 August 2015

Knight Frank Singapore is pleased to announce the launch for sale of a redevelopment site located along East Coast Avenue. The site is put up for sale by tender and Knight Frank is the sole and exclusive marketing agent.

The freehold residential redevelopment site is located within the prime East Coast area, an exclusive enclave of residential developments comprising detached, semi-detached and terrace houses. It has a land area of 4,203.8 sqm (approx. 45,249 sq ft) and sits on a regular-shaped plot. Under the 2014 Master Plan, the site is zoned as “Residential” and within a three-storey mixed landed area.

The subject site is also strategically located near the proposed Marine Terrace MRT and Siglap MRT stations along the upcoming Thomson-East Coast Line. It is a few minutes’ drive away from Parkway Parade Shopping Centre, Siglap Shopping Centre, 112 Katong and East Coast Park. In addition, it is well served by major roads such as the Pan-Island Expressways (PIE) and East Coast Parkway (ECP), providing excellent connectivity to the rest of Singapore. The city centre and shopping and entertainment belt of Orchard road and city centre is a short drive away.

Established schools such as Victoria School, Victoria Junior College, St Patrick’s School, Global Indian International School and CHIJ Katong Convent are also within the vicinity. 

The seller is expecting offers in excess of $52 million. This translates to a land rate of approximately $1,149 psf on land.

“It is extremely rare for such a large plot of freehold land zoned 3-storey mixed landed to be sold. In fact, this could possibly be the largest plot of freehold land in D15 which is zoned 3-storey mixed landed, that is put up for sale in the past 20 years,” says Mr Ian Loh, Executive Director & Head, Investment and Capital Markets.

In May, URA introduced a new set of envelope control guidelines to guide the redevelopment of landed houses, providing developers and homeowners more flexibility in the design of landed housing.

The tender for 3 East Coast Avenue closes on 16 September 2015 at 3 pm.

 

For further information, please contact:

Mr Ian Loh, Executive Director & Head, Investment & Capital Markets
(E): ian.loh@sg.knightfrank.com  (D): +65 6228 6823 / (M): +65 9687 0170

Ginli Tang, Senior Executive, Corporate Communications
(E): ginli.tang@sg.knightfrank.com  (D): +65 6228 7379