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View Full Version : UOL buys Spottiswoode Apartment for $79.5 million



joe
04-04-07, 00:54
ACQUISITION OF PROPERTY KNOWN AS SPOTTISWOODE APARTMENT LOCATED AT 70 SPOTTISWOODE PARK ROAD, SINGAPORE

good one!
04-04-07, 18:06
Wow! I know that area, just passed by it the other day and I was wondering how come no en bloc activity here. Good location! This is going to be another 30+ storey project in the city!

mr funny
05-04-07, 05:21
Published April 5, 2007

Spottiswoode Apt sets new benchmark


UOL's $79.5 million acquisition of Spottiswoode Apartment, announced late on Tuesday, works out to a unit land price of $732 per square foot per plot ratio including an estimated $167,000 development charge.

This is a new benchmark for the Neil Road/Cantonment Road area, says United Premas, which brokered the freehold collective sale and released unit land price details yesterday.

Based on a land cost of $732 per sq ft per plot ratio, UOL's breakeven cost for a new condo project will be about $1,050 psf, market watchers reckon.

The 38,878 sq ft freehold site is zoned for residential use with a 2.8 plot ratio - the ratio of potential maximum gross floor area to land area - and a 36-storey maximum height under Master Plan 2003.

The site can be redeveloped into a new condo of about 100 units averaging 1,200 sq ft.