SINGAPORE - Tai Wah Building on Killiney Road is up for collective sale, unit owners have unanimously decided.
They are asking for S$81 million for the freehold 13,148 square feet site, which is zoned for residential use with commercial use on the first floor, marketing agent Edmund Tie & Company said on Monday (Oct 9).
The price works out to S$2,035 per sq ft per plot ratio, with no development charge payable.
The four-storey Tai Wah Building, about 250 metres from Somerset MRT station, now houses two shops and six apartments.
It could be turned into a "boutique residential development" or serviced apartments, said Edmund Tie & Company investment advisory senior director Swee Shou Fern.
Ms Swee added: "The 100 per cent owners' consent offers certainty in deal completion timeline."
The tender exercise will close on Nov 15 at 3pm.