Freehold apartment block on Dorset Road on the market for $22 mil

The surrounding neighbourhood primarily makes up low-rise condominiums including landed residences. The apartment is near City Square Shopping Mall, United Square and Velocity. Clinical services just like Farrer Park Hospital and also KK Women’s together with Children’s Health center are also nearby.

Primary academies within 1km of the property development are Farrer Park Primary School and even St Joseph’s Institution Junior. Different elementary schools around are Anglo-Chinese School (Junior), Bendemeer Primary School, and St Margaret’s Primary School.

“Given the latest great revenue outputs of Piccadilly Grand, strong demand for fresh house units in the area will probably carry on as there are no upcoming latest launches in the pipeline. An advantage for this purchase is that it does not need the Strata Titles Boards’ authorization, hence permitting the effective purchaser to promptly turn the area around in order to launch the new project for sale,” states Tay.

The residential property consists of a three-storey walk-up flat block with two front views along Dorset Roadway and Truro Road. It rests on a consolidated spot location of 11,035 sq ft. The site is zoned “residence” with a gross plot ratio of 1.4 under the most up to date Master Plan.

A freehold house block at 103A/B including 105A/B Dorset Road has recently been offered with an indicative rate of $22 million. ERA Realty Network is the main promotion agent for the revenue of this real estate.

The tender for the revenue of 103A/B and 105A/B Dorset Roadway will close on Dec 15.

According to ERA, this translates to a gross floor location of 15,449 sq ft, and also the new development might house approximately 16 homes with an average dimension of 914.6 sq ft (85 sq m), based on approvals. The indicative price is about $1,424 psf per plot ratio (ppr). After considering the 7% additional gross floor area for terraces, the land rate eventually becomes $1,331 psf ppr. “Due to its substantial historic standard, the land improvement fee is not payable for redeveloping the location,” claims ERA.

“This site is excellent for developers keen to build a boutique domestic project located in a quiet housing enclave, yet just mins away from the buzz of events and even a range of facilities,” says Tay Liam Hiap, managing director of investment sales at ERA Real estate.

The Arden Phoenix Avenue price

The location’s appearance is improved as a result of the successful start of neighboring Piccadilly Grand. The 99-year leasehold integrated development is a joint development between City Developments (CDL) and also MCL Land. The 407-unit project was launched in May this year, offering 77% of the complete available units and achieving a standard asking price of $2,150 psf. Piccadilly Grand is around 85% marketed since end-October.

This building is less than 500m from Farrer Park MRT Station on the North-East Line. This station is one stop from Little India MRT Interchange on the Center and also North-East Lines. Route connectivity is with Bukit Timah Road, Serangoon Road, Balestier Road, Moulmein Road, and even the Central Expressway.

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