Regent Court up for sale

SINGAPORE - Regent Court, a freehold residential property at Serangoon Road, has been put up for sale via tender by its marketing agent Cushman & Wakefield.

The property has a land area of 38,857 sq ft and is zoned for high-rise residential development of up to 36 storeys. It has a plot ratio of 2.8, which allows a maximum gross floor area of 108,800 sq ft. No development charge is payable.

According to Cushman & Wakefield, the site will allow a developer to build some 200 apartment units with average sizes of 500 sq ft.

The property is worth more than $83 million, translating to a minimum price of $763 per sq ft per plot ratio. The break-even project cost is about $1,200 psf, said Cushman & Wakefield.

The firm's vice-chairman Donald Han, said the Serangoon area has been recognised as a strategic suburban residential area due to the its proximity to the city centre, as well as HDB upgraders' interest to own and occupy condominiums.

Cushman & Wakefield said the connectivity of the Serangoon area would be improved with the completion of the Circle Line and the Upper Serangoon PIE viaduct.

The tender is expected to close on Feb 28. Jo-ann Huang


by Jo-Ann Huang Limin
05:55 AM Jan 21, 2011

Source: www.todayonline.com