Gerald Crescent Redevelopment Site Up For Sale For $25mil
A redevelopment site at 2F Gerald Crescent has been commenced available for sale with bidding with a standard amount of $25 mil, published one and only marketing and advertising professional ET&Co.
This formulates to close to $785 psf based upon the location’s area of 31,882 sq foot.
Situated within the Seletar Hills landed house grounds, the 999-year rental spot is taken up by an unused house.
The ordinary formed plot, which is area for three floors different landed home under the 2019 Master Plan, is pleased for “a selection of landed home varieties plus mixes”, reported the advertising and marketing specialist.
The land is neighboring Sungei Punggol river along with the Punggol PC. ET&Co marked the fact that arrangements are underway “to reconstruct the nearby Punggol Reservoir right into a dynamic area for leisure water adventures as a component of the latest Master Plan”.
Dining, shopping and leisure features among the proximity are The Seletar Mall, Greenwich V, The Oval @ Seletar Aerospace Park also Seletar Country Club.
The residential property is in addition close to several colleges consisting of Nan Chiau High School, Rosyth Sch, Nanyang Polytechnic, Australian International School and also International French School.
” Large redevelopment sites for landed housing are rarely attainable. The home, which is maintained by a solitary property owner, at the same time furnishes an extraordinary opportunity for instant upgrading,” stated Swee Shou Fern, ED of Inv Advisory at Edmund Tie.
In addition to domestic creators keen on subdividing the site to quite a few landed houses, Ms Swee likewise predicts interest “from high-net worth or even multi-generational families looking to buy for their private reside”.
” With minimal amount of landed house in SG, a growing mode to purchase larger residences because of work-from-home plans plus an affordable rate of interest situation, everyone expect pursuit for landed homes to keep on being solid.”
The bid to obtain 2F Gerald Crescent terminates on 9 February.
