Foh Pin Mansion – A Freehold Residential Redevelopment Site For Sale By Tender

31 May 2010

Savills Singapore is pleased to announce the launch of a freehold residential redevelopment site For Sale by Tender.

 

1. Foh Pin Mansion, 1 Charlton Road – For sale as a redevelopment site

The 34,154 sq. ft. freehold redevelopment site is located at No 1 Charlton Road, on which the current 30-year old 21-unit Foh Pin Mansion sits on. Based on the Master Plan 2008, the site can be redeveloped into a 3-storey mixed landed housing development.

The redevelopment site is located at the junction of Charlton Road and Upper Serangoon Road, which is mere minutes drive to Heartland Mall, the upcoming Nex and Serangoon Central. The Kovan MRT Station is also within a pleasant walk from Foh Pin Mansion.

“Foh Pin Mansion is located within an established private residential estate with ample amenities from the neighbouring Hougang and Serangoon Central HDB Towns. We expect the site to attract bids from boutique developers, construction companies and contractors. To date about 90% of the owners have agreed to proceed with the en bloc sale,” says Suzie Mok, Director of Investment Sales at Savills Singapore who is handling the sale.

Savills expects strong response for the Subject Property in view of the number of bids received for the recent URA land sale site along Hougang Avenue 2 (7 bids) and the HDB land sale site near the Junction of Tampines Road and Hougang Ave 3 (16 bids).

Foh Pin Mansion has an indicative guide price of S$22.5 million. The closing date for this tender is at 3 pm on the 28th June 2010.

 
 

Key contacts

Suzie Mok

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Director, Investment Projects

SGX Centre 1, Singapore

+65 6415 3625

 

Michael Lim

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Corporate Communications Manager

SGX Centre 1, Singapore

+65 6415 7579