Thursday, April 19, 2012

Green Lodge up for en bloc again

Green Lodge (pictured), a freehold property at Toh Tuck Road, has been re-launched for collective sale with an indicative price of S$195 million.

Marketed by DTZ, this is the third time that the site has been put up for sale, after the first two attempts in 2009 and 2011 failed to lure buyers.

Green Lodge sits on a 14,035.3 sq m land site and could be redeveloped into a five-storey condo project with a gross plot ratio of 1.4 under the 2008 Master Plan.

DTZ noted that the S$195 million price tag works out to $846 psf ppr, inclusive of about 8.9 percent balcony space with no development charge.

Situated in a predominantly low-rise residential area, Green Lodge is surrounded by Eng Kong Park and Toh Tuck Garden, with Pei Hwa Presbyterian Primary School located nearby.

“The property would draw keen interest from developers looking to build a condominium development with full communal facilities in an established residential enclave,” said Shaun Poh, Senior Director for Investment Advisory Services and Auction at DTZ.

The tender for the property will close on 15 May 2012.

View the original article here

Source From Property Guru

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