Killiney 118 relaunched for collective sale at S$76m

Killiney 118 relaunched for collective sale at S$76m

Jul 28, 2022

https://i.imgur.com/PfvaBWe.jpg

A FREEHOLD 6-storey apartment building along 118 Killiney Road has been relaunched for collective sale with an unchanged guide price of S$76 million.

Completed in 2013, it has an area of approximately 7,688 square feet (sq ft) and a plot ratio of 3.94. The total existing gross floor area stands roughly at 30,327 sq ft.

Subject to final planning approval, the successful buyer will have the option to adapt the prime freehold property in Orchard Road for hotel or serviced apartment use, or as a post-natal care centre, said its sole marketing agent Edmund Tie in a press release on Thursday (Jul 28).

The site is also zoned for “residential with commercial at 1st storey” under the Urban Redevelopment Authority Master Plan 2019.

At the asking price of S$76 million, Edmund Tie added that there is no development charge payable to convert to either “post natal care centre”, or “hotel” and “serviced apartments” use.

The site was earlier launched with the same guide price in April this year.

Edmund Tie’s head of investment advisory Swee Shou Fern believes this offers the successful buyer an “immediate hospitality product that can be retrofitted for hotel or serviced apartment use – to ride on the growth of tourism and hospitality sectors”.

The development has a restaurant on the first storey, 30 apartment units on upper floors and a basement car park. It is situated near Orchard Road, with Somerset MRT station just about 500 metres away.

Orchard, Dhoby Ghaut and Fort Canning MRT stations are also within a 1-kilometre radius.

The property on 118 Killiney Road is up for sale by tender, which will close on Sep 13 at 3 pm.

https://www.businesstimes.com.sg/rea...e-sale-at-s76m