The joint estates have an indicative property rate of $1,280 per sq feet per plot ratio (psf ppr), advertising representative PropNex Realty stated, without revealing reserve rates.
You enjoy Forett At Bukit Timah facilities in the proximity to the CBD and come home to a tranquil sanctuary after a busy day at work. Also close are an array of shopping and dining facilities. The malls available provide you with incredible entertainment that brightens your time outdoors.
PropNex attempted to launch both freehold websites in Geylang for collective sale in January, together with the tenders initially set to close in May, but the procedure had been deferred amid anti-coronavirus steps.
“We have received enthusiastic expressions of attention verbally from a Middle East conglomerate in addition to local developers,” PropNex adviser Richard Hau said .
Tan & Au, the attorneys for the collective earnings, has asked about a possible change of use to permit the sites to be turned into a nursing home,” Mr Hau stated.
Both plots are currently zoned for institutional or commercial use using a 2.8 gross plot ratio.
Wing Fong Mansions, in 12 Lorong 14, crosses 47,880 sq feet and contains 130 units over eight storeys with a whole strata region of approximately 142,000 sq ft.
It sits on 29,334 sq feet of property and contains 88 units over eight storeys with a whole strata region of 88,000 sq ft.
Taken together, they produce a notable joint site with a broad frontage extending from Geylang Road into Guillemard Road.
Mr Hau stated in January that it can be possible to connect the websites underground using a basement flat to form one incorporated development.