Published July 3, 2007

East Coast site up for sale

AN eight-unit freehold residential site in East Coast has been put up for collective sale with an asking price of $20 million. The price for the land at 16-22A Pulasan Road, measuring 21,334 square feet, works out to $548 per sq ft per plot ratio, and includes a development charge of $56,000, said marketing agent Newman & Goh yesterday. 'Together with potential alienation of adjoining state lands totalling 6,826 sq ft, it can be built up to a gross floor area ceiling of 39,424 sq ft,' said Newman. The site can be redeveloped into about 36 units of boutique apartments averaging 1,100 sq ft per unit for an average price $1,050 psf, said Newman. The sale has received full approval from the owners. The tender closes on July 20 at 3pm.