Grand Tower up for collective sale at $92mn

This works out to be $1430 psf ppr based on potential GFA of 64,310 sq ft.

According to DBS, Grand Tower is a smallish freehold condominium project along Moulmein Rise. It is a 5 minute walk away from Novena MRT station.

No developmet charge is payable. The current GFA for the 21,742 sq ft site translates to a plot ratio of 2.96, exceeding the permissible plot ratio of 2.8 under the master plan.

It is estimated that the site could accommodate 70 units of an average size of 850 sq ft each.

Based on $1430 psf of land cost, DBS estimates breakeven cost to be around $1900-2000psf of saleable area and selling price would likely to be in the $2300-$2400 psf range, assuming a 10-15% development margin.

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