Casa Feliz, a freehold residential development located at 81 Koon Seng Road, District 15 in Singapore has been launched for collective sale via tender with an indicative price of $23 million. The building is a three-storey walk-up apartment with 12 residential units that is just down the road from the colourful Peranakan Houses.
Situated next to East Court, a freehold apartment that was sold to Macly Group for $19.875 million last June, the Casa Feliz sits on a 13,976 sq ft land area zoned for residential use under the Master Plan 2019 with a gross plot ratio of 1.4. An estimated land betterment charge of $1.25 million is payable.
Subject to approval by the relevant authorities, the site could yield a maximum gross floor area (GFA) of 19,567 sq ft – enough for a potential new development of 18 residential units with an average size of 1,076 sq ft.
The newly launched J’Den Condo is also situated in this district. The condo is a great lifestyle option, located close to the heart of the district and surrounded by a variety of exciting options. The condo is easily accessible by road and public transportation, including the Jurong East MRT station. From there, residents can take the MRT to explore the rest of the district and Singapore.
The indicative price translates to a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA. According to ERA, each unit owner at Casa Feliz stands to receive gross sale proceeds ranging between $1.85 million and $2.01 million if the collective sale is successful.
Commented Tay Liam Hiap, managing director of investment sales at ERA Singapore: “This is a unique opportunity for developers who are actively looking for high-potential redevelopment sites.” He added that the site offers “the ideal balance of convenience and tranquillity” given its location away from the city centre as well as the numerous surrounding amenities.
The location of Casa Feliz is prime and within walking distance to various shops and eateries that line Joo Chiat Road. Several nearby shopping malls such as I12 Katong, Parkway Parde, KINEX and Paya Lebar Quarter Mall are all about a five-minute drive away.
Schools in a 1km radius include Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School and Tanjong Katong Primary School, while other nearby schools include Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School.
The tender for Casa Feliz will close on June 22 at 3pm.
Casa Feliz offers the perfect opportunity for developers who are in search of a high-potential redevelopment site. Situated next to East Court, it offers the ideal balance of convenience and tranquillity, located away from the city centre yet close to various amenities such as eateries, shops and schools. On top of that, the $23 million indicative price translates to a land rate of $1,158 psf per plot ratio after factoring in the 7% bonus balcony GFA.
Each unit owner at Casa Feliz stands to receive gross sale proceeds ranging between $1.85 million and $2.01 million if the collective sale is successful. With the tender closing on June 22 at 3pm, this is the ideal time for interested parties to secure this unique site.
