SINGAPORE - A 226-apartment property in Farrer Road known as Spanish Village is up for collective sale at an asking price of S$882 million, the Edmund Tie & Company said in a media statement on Monday (June 4).
The freehold residential site was built in the 1980s, and spans 331,457 sq ft. The asking price reflects a land rate of S$1,721 per sq ft per plot ratio (psf ppr), which is inclusive of a development charge of about S$30 million. The site is zoned for residential use with a gross plot ratio of 1.6.
The area is surrounded by schools such as Nanyang Primary School, Raffles Girls' Primary School, Nanyang Girls' High School, The Chinese High School, Anglo-Chinese School (International), Hwa Chong Institution and National Junior College.
The tender exercise for the site will close at 10am on July 18, 2018.