Three upscale private homes in Bukit Timah have been put up for sale via a tender.
The adjoining properties are located in the prime District 10 area along Queen's Road and Duke's Road, which is near the Botanic Gardens and malls like Serene Centre as well as Coronation Shopping Plaza.
All three freehold properties are owned by the same seller, who is asking a price of above $45 million.
With a total land area of around 25,400 sq ft and a gross plot ratio of 1.4, the sites can yield a maximum permissible gross floor area of close to 35,600 sq ft.
This works out to a land rate of about $1,430 per sq ft per plot ratio, including an estimated development charge of some $5.8 million, according to property consultancy Knight Frank, which is the marketing agent.
In comparison, new residential units at the nearby freehold Cluny Park Residences have been sold for between $2,700 psf to $3,420 psf since August.
Mr Ian Loh, the director and head of investment and capital markets at Knight Frank, said: "We expect this property to attract strong interest in view of its strategic location and relatively affordable investment size."
He added that prospective buyers can look forward to a quick turnaround time to redevelop the properties, as approval from the Strata Titles Board is not needed, since the assets are owned by the same seller.
Knight Frank said the properties can be redeveloped into five-storey apartments, cluster or conventional landed houses or a bungalow.
The tender for the properties will close on Apr 9 at 3pm.