East Coast residential site up for collective sale

used to live near here :)


Property
Published October 26, 2006

East Coast residential site up for collective sale



A SMALLISH freehold residential site on the East Coast is up for collective sale by tender. Marketing agent Knight Frank said yesterday the price for Heiwa Court is at least $10.5 million, or $367 per square foot per plot ratio, including a development charge estimated at $85,000. The tender closes at 3pm on Nov 23.

Heiwa Court, located in a low-rise residential area on East Coast Road, comprises two blocks of three-storey walk-up apartments on a site of 1,896.2 square metres.

Under the 2003 Master Plan, the site is zoned for residential use with a maximum plot ratio of 1.4 and a five-storey height limit. Knight Frank estimates it can be redeveloped into 25-30 apartments averaging 900 to 1,100 sq ft. The site is within a kilometre of Tao Nan School, CHIJ (Katong) and Ngee Ann Primary School.