Freehold apartment East Court sold to Macly Group for $19.9 mil

Freehold apartment East Court sold to Macly Group for $19.9 mil

June 21, 2022

East Court, a freehold apartment located at Koon Seng Road in District 15’s Joo Chiat area, is being sold via private treaty to developer Macly Group for $19.875 million. The option for the transaction was exercised on June 20, according to William Gan, managing director at WGR Property Consultants, who brokered the deal. The sale price translates to a land rate of $1,063 psf per plot ratio.

East Court is a low-rise walk-up apartment that was completed in 1986. It sits on a land site measuring 13,351 sq ft with a gross plot ratio of 1.4. The eight units available at the development are housed in a single four-storey block, with sizes ranging between 1,500 to 1,700 sq ft.

https://i.imgur.com/CVTn3QI.jpg

Macly is reportedly planning to redevelop the site into a five-storey development with 19 residential units. The freehold site is located within walking distance to shops and eateries along Joo Chiat Road. It is also a short drive away from several malls including Parkway Parade, i12 Katong, Katong Shopping Centre and Katong V. Other nearby amenities include East Coast Park, Dunman Food Centre 85 Marine Parade Central Market.

https://www.edgeprop.sg/property-new...-group-199-mil