An urban oasis at Tembusu Grand, the new collective sale offer in Tanjong KatongThe potential of a 9,999-year site at 52 to 62H Tanjong Katong Road could unlock its urban oasis at an attractive price. With a guide price of $63 million, the 26-unit walk-up development translates to a land rate of $1,401 psf per plot ratio (psf ppr), including an estimated land betterment charge of approximately $530,000. According to sole marketing agency Huttons Asia, located in District 15, the 4-storey building has a land area of 32,397 sq ft, allowing it to potentially have 49 residential apartments with an average size of 915 sq ft.
The potential of a 9,999-year site at 52 to 62H Tanjong Katong Road is now available for purchase! With a guide price of $63 million, the four-storey development features a land area of about 32,397 sq ft, offering the potential to yield approximately 45,356 ft of gross floor area upon redevelopment. This is based on the allowable gross plot ratio of 1.4 due to the property being zoned for residential use under the 2019 Master Plan.
The new development could potentially have 49 residential apartments with an average size of 915 sq ft, translating to an attractive land rate of $1,401 psf per plot ratio (psf ppr). This takes into account an estimated land betterment charge of approximately $530,000.
This property has been on the market for some time, first being launched for collective sale at an indicative price of $65.5 million in July last year. However, it received several offers below the asking price, according to Huttons Asia, the sole marketing agency for the walk-up development. Now, it has relaunched the property for tender with a revised guide price of $63 million.
Situated in District 15, the location of 52 to 62H Tanjong Katong Road is ideal for those looking for an urban oasis. It is a mere 10-minute drive away from the CBD and a 500m walk from Paya Lebar MRT Station. Surrounding amenities such as shopping malls, the Singapore Sports Hub, East Coast Park and F&B and cafe offerings in the Katong and Joo Chiat areas also make it an attractive prospect.
Angela Lim, deputy head of investment sales at Huttons Asia, comments: “We believe that it will be popular with both professionals and young couples who are looking for abundant convenience, as it is just five stops to City Hall Interchange and within a stone’s throw to Paya Lebar Commercial Hub, where there is a great mix of retail, F&B and recreational offerings.”
Terence Lian, head of investment sales at Huttons Asia, also establishes the relevance of Tanjong Katong as an area with great appeal: “Tanjong Katong has always been a choice location for buyers looking to purchase their new homes in District 15. We expect that there would be keen interest from several developers in view of the buoyant and brisk sale of Tembusu Grand, which bodes well for the collective sale of this 9,999-year Tanjong Katong site.”
The tender for 52 to 62H Tanjong Katong Road closes on May 9 at 2pm, offering a great opportunity to secure an urban oasis at a competitive and attractive price.
