SINGAPORE - Sun Rosier condominium off Bartley Road is up for collective sale, joining a fast-growing list of such properties.
Its 78 owners are asking for S$235 million, or S$1,149 per square foot per plot ratio (psf ppr) for the freehold site, marketing agent Huttons Asia announced on Friday (Aug 25).
The 146,046 sq ft site along along How Sun Drive is three to five minutes away from Bartley MRT station by foot.
With a plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2014, the site has a maximum gross floor area of 204,464 sq ft and can be developed into 204 condo units averaging about 1,000 sq ft each.
No development charge is payable, said Huttons.
Huttons said the Sun Rosier site can leverage on its freehold status, close proximity to the upcoming Bidadari residential estate and favourable market conditions.
There has been robust response to government land sales in the area. In June, a mixed development government land sale site besides Woodleigh MRT station was sold at S$1.132 billion or S$1,181 psf ppr in June. Singapore Press Holdings and Kajima Development are planning to develop more than 600 residential units and a 310,000 sq ft mall on the 99-year leasehold site.
In July, another government land residential parcel at nearby Woodleigh Lane was sold for S$700.7 million or S$1,110 psf ppr to a joint venture between Chip Eng Seng, Heeton and KSH.
The tender for Sun Rosier will close on Sept 21.