SINGAPORE - TEE Land is understood to be buying Casa Contendere along Gilstead Road through a collective sale for S$72 million.
The price works out to S$1,638 per square foot per plot ratio inclusive of an estimated development charge of S$15.1 million payable to the state.
Located in District 11, Casa Contendere is on a freehold site with a land area of 37,972 sq ft; the site is zoned for residential use and has a plot ratio of 1.4 under the Urban Redevelopment Authority's Master Plan 2014.
Casa Contendere, which is a short distance from Newton MRT Station, is a four-storey block comprising 11 maisonette units. Owners will receive sums ranging from about S$5.9 million to S$7.5 million per unit. Keck Seng Group is understood to own six of the 11 units.
Casa Contendere's collective sale was through a private treaty deal brokered by William Gan Realty.
As unanimous approval from the owners has been obtained, the deal will not be subject to approval by the Strata Titles Board.