Savills Singapore is pleased to announce the launch of 10A Jalan Ampas for sale by tender.
Savills Singapore is pleased to announce the launch of 10A Jalan Ampas for sale by tender.
The freehold property has an area of 1,121.3 sq.m. and is presently zoned under Master Plan 2014 as Business 1 with an allowable gross plot ratio of 2.5. However, subject to relevant authority approval and payment of development charges, the property is within the industrial cluster in the Novena Planning Area where the URA may consider a rezoning into Residential with gross plot ratio of 2.8. On this basis, the maximum allowable gross floor area for this site will be about 33,974 sq.ft. Subject to approval, up to 44 apartments of average 70 sq.m. size can be built on this site.
Neighbouring sites in the same cluster had been redeveloped from its previous Business 1 use to residential projects include The Viridian and The Interweave.
The latest new launch in the Balestier area is City Suites. Transactions at City Suites this year ranged between S$1,725 to S$1,807 psf.
10A Jalan Ampas is located within minutes’ walk to Zhong Shan Mall, Whampoa Market and upcoming Health City Novena. It is also situated in close proximity to the Hong Wen School, Pei Chun Public School, SJI International School and CHIJ Primary (Toa Payoh).
“It’s not always that a boutique freehold residential site is readily available for sale. Being single-owner owned makes for a very efficient buying process as well.” says Steven Ming, managing director, head of investment sales & residential services at Savills Singapore.
10A Jalan Ampas carries a guide asking price of S$16.8 million. On basis of conversion into residential use, the development charges that apply are estimated at about S$16.86 million and translates to about S$996 per square foot of allowable gross floor area.
The tender sale closes 3pm on 13 October 2017.