Tuesday, June 05, 2012

Sophia Mansions launched for collective sale

Sophia Mansions (pictured), a 19-unit freehold residential development in the Mount Sophia enclave has been launched for en bloc sale with a guide price of between S$42.5 million and S$45 million.
This works out to a land rate of between S$1,160 psf ppr and S$1,228 psf ppr based on a gross plot ratio of 2.1, inclusive of development charge.



Sole marketing agent Credo Real Estate said the 20-year-old development sits on a land area of around 17,545 sq ft. It can be redeveloped into a six-storey boutique project with the option of a basement car park under the 2008 Master Plan and can accommodate up to 35 apartments with an average size of approximately 1,000 sq ft.

“New launches in this area generally see a strong take up rate due to its strategic locality and proximity to Orchard Road and the Central Business District area,” said Yong Choon Fah, Executive Director of Credo.

If successful, owners are expected to receive between S$2.56 million and S$2.71 million each for three-bedroom units and around S$1.92 million to S$2.03 million each for two-bedroom apartments.

The tender for the property will close on 27 June 2012.

Meanwhile, 1919, a new freehold development in Mount Sophia is set to launch this month.

Its developer Aurum Land, a subsidiary of construction firm Woh Hup, said the project is inspired from the design of colonial shophouses.

“Being situated in the Mount Sophia neighbourhood highly sought after by singles and DINK (double income, no kids) couples and with its proximity to the many attractions, 1919 stands as a bold and defined statement,” said Knight Frank, the project’s marketing agent.

It comprises of 75 units featuring 39 one-bedroom with study units, 31 two-bedroom apartments and five three-bedders. Average prices are expected to range between S$2,000 psf and $2,200 psf, with ground floor (PES) units starting from S$1,600 psf.

View the original article here

Source From Property Guru

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