Four sites put up for collective sale

The collective sale market shows no signing of slowing with four more sites put up for sale yesterday.

The most expensive is the 140-unit Grangeford Apartment, which sits on 130,982 sq ft of prime land on Grange Road.

Marketing agent CB Richard Ellis said the asking price is a whopping $660 million or about $2,016 per sq ft per plot ratio (psf ppr).

If the site is sold at that price, owners could reap up to $3.8 million for larger three-bedders - more than double the last sale price of $1.8 million in February.

The site is being marketed via an expression of interest exercise on May 25. So far, 72.5 per cent of owners have agreed - short of the 80 per cent required.

The 74-unit Rivershire on Leonie Hill Road is also up for sale through a May 29 expression of interest exercise. The 56,396 sq ft site is expected to fetch about $237 million - a land value of $1,500 psf ppr, said marketing agent Knight Frank.

Credo Real Estate is putting Nob Hill Condominium and two adjoining plots up for sale in a May 21 tender. The asking price for the Ewe Boon/Balmoral area sites is $95 million, or $1,100 psf ppr.

Colliers International has also put Fairways condominium in Telok Blangah up for sale in a May 16 tender. The successful buyer can combine the site with a 8,288 sq ft piece of state land, it said. The 146,532 sq ft site has an indicative land value of $238 million or $773 psf ppr.

Source : Straits Times - 24 Apr 2007