Anderson 18 in Ardmore area sold for S$477.7m
Posted: 05 March 2007 2249 hrs
SINGAPORE: Anderson 18 in the Ardmore area has been sold for S$477.7 million through an en-bloc deal to a joint venture company formed by City Developments and Wing Tai Holdings.
Together with development charges, it gives the freehold site a land value of S$1,650 per square foot per plot ratio, making it the most valuable land in the coveted Ardmore area.
The existing Anderson 18 development comprises one tower block of 71 residential apartments with sizes ranging from 258 square metres to 268 square metres.
Under Master Plan 2003, the land is zoned for residential use at a plot ratio of 2.8 with a 36-storey height control.
- CNA/so