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Published September 6, 2011

2 residential sites in District 10 up for sale


TWO residential redevelopment sites in District 10 have been launched for sale by tender.

Dynasty Garden, a freehold redevelopment site located along Sixth Avenue, has a land area of 6,809.8 square metres (approximately 73,300 sq ft).

It has a guide price of $105 million, translating to a land price of $1,432 psf.

The site currently occupies 33 walk-up apartments with unit sizes ranging from 97 sq m to 242 sq m. Current owners can expect sale proceeds ranging from $2.8 million to $5.4 million, says marketing agent Knight Frank.

The other site, 21 Lim Tai See Walk, which adjoins Dynasty Garden, has a land area of 1,179 sq m (approximately 12,691 sq ft).

The guide price for this site is $17 million, which translates to a land price of $1,340 psf.

The two sites combined give a land area of 85,991 sq ft; both sites are designated 'three-storey mixed landed'.

Based on prevailing guidelines for strata landed developments, 52 strata terrace houses or 38 strata semi-detached houses could be built on the combined area, says Knight Frank.

Ian Loh, the associate director for investment at Knight Frank, noted that one of the unique features of this launch lies in the large land area. Given the difficulty in getting a land plot of that size, there have not been many comparable launches in the area, he said.

Buyers can opt to tender for the combined sites or either one.

Knight Frank said: 'The prestigious District 10 address provides an excellent opportunity for developers to build unique and luxurious cluster homes. It is also enhanced by its strategic location to the nearby Holland Village and numerous reputable schools.'

Tenders for Dynasty Garden and 21 Lim Tai See Walk will close on 5 Oct at 4 pm.