October 17, 2011, 11.41 am (Singapore time)
Faber Garden up for S$830m collective sale
By CARINE LEE
Faber Garden, a freehold residential redevelopment site located along Upper Thomson Road is on Monday, up for collective sale by tender.
The redevelopment site has an area of approximately 544,738 sq ft, and is zoned for residential use with a gross plot ratio of up to 1.6. It can yield approximately 760 apartments with an average size of 1,200 sq ft. An estimated development charge of approximately $31.2 million is payable.
The site is within close proximity to Bishan, Ang Mo Kio and Marymount MRT Station with a future MRT Station on the Thomson line expected within walking distance.
Sole marketing agent Jones Lang LaSalle has given an indicative price of S$830 million for the site. Tender will close at 3pm on Nov 22, 2011.