, I12 Katong, Parkway Parade, KINEX and Paya Lebar Quarter Mall on EdgeProp.sg
Casa Feliz, a freehold residential development located at 81 Koon Seng Road in District 15 has been put up for collective sale via tender with the indicative price being set at $23 million. The building is a three-storey walk-up apartment with 12 residential units located close by the well-known Peranakan Houses in the Joo Chiat area. Moreover, it is just next to East Court, a freehold apartment which was sold to Macly Group for $19.875 million back in June 2020.
The land area stands at 13,976 sq ft and the zoning is for residential use. Based on the Master Plan 2019, the site could achieve a maximum gross floor area (GFA) of 19,567 sq ft. Should the respective authorities approve, this could result in 18 new residential units, averaging 1,076 sq ft in size.
According to the marketing agent, ERA Realty Network, the indicative price is the equivalent of a land rate of $1,158 psf per plot ratio after factoring in 7% bonus balcony GFA. On top of that, a payment of an estimated land betterment charge of $1.25 million is also required.
“This is a unique opportunity for developers who are actively looking for high-potential redevelopment sites,” remarked Tay Liam Hiap, managing director of investment sales at ERA Singapore. The location of the site, away from the hustle of the city yet within the vicinity of various amenities and facilities, is “the ideal balance of convenience and tranquillity”, he adds.
The site is close to numerous shops and eateries along Joo Chiat Road, and less than a 5-minute drive from I12 Katong, Parkway Parade, KINEX and Paya Lebar Quarter Mall. Schools in the 1km radius are Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School and Tanjong Katong Primary School. Other closeby schools include Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School.
Should the collective sale go successfully, unit owners at Casa Feliz stand to receive gross sale proceeds ranging from $1.85 million to $2.01 million. Meanwhile, the tender for Casa Feliz will be closed on June 22 at 3pm.
Property seekers can now take a look at the latest listings near Casa Feliz, Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary School, Kong Hwa School, Maha Bodhi School, St Stephen’s School, Ngee Ann Primary School, I12 Katong, Parkway Parade, KINEX and Paya Lebar Quarter Mall on EdgeProp.sg.
Casa Feliz, a freehold residential development in District 15, has been put up for collective sale via tender for an indicative price of $23 million. Situated down the road from the renowned Peranakan Houses that highlight the Joo Chiat area, the three-storey walk-up apartment currently houses 12 residential units.
The land area is 13,976 sq ft and the zoning is for residential use according to Schedule U of the Master Plan 2019. This translates to a maximum gross floor area (GFA) of 19,567 sq ft, and subject to approval by the relevant authorities, this could potentially yield 18 residential units with an average size of 1,076 sq ft.
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Despite the site being located away from the city, it has many nearby facilities and amenities. It is within walking distance to many shops and eateries along Joo Chiat Road, as well as less than 5-minutes’ drive to shopping malls such as I12 Katong, Parkway Parade, KINEX and Paya Lebar Quarter Mall.
In addition, there are also numerous schools in the vicinity such as Tao Nan School, CHIJ (Katong) Primary, Haig Girls’ School, Tanjong Katong Primary School, Kong Hwa School, Maha Bodhi School, St Stephen’s School and Ngee Ann Primary School.
Tay Liam Hiap, managing director of investment sales at ERA Singapore, commented that this is “the ideal balance of convenience and tranquillity”; and a unique opportunity for developers searching for high-potential redevelopment sites. The indicative price translates to a land rate of $1,158 psf per plot ratio, plus a land betterment charge of $1.25 million.
The tender for Casa Feliz will close on June 22 at 3pm. Unit owners can expect a gross sale proceed of between $1.85 million and $2.01 million if the collective sale goes through. Property seekers can now check out the latest listings near Casa Feliz on EdgeProp.sg.
