Parkway View along Marine Parade up for collective sale

The tender for the freehold residential redevelopment site will close at 3pm on 27 October 2011.

According to a release, Jones Lang LaSalle is presenting for collective sale by tender, a prime freehold residential redevelopment site, Parkway View, located along Marine Parade Road.

The redevelopment site has an area of 25,787 sq. ft, zoned for ‘Residential’ use with a gross plot ratio of up to 2.1 and can be built up to 24 storeys. The potential gross floor area of up to 59,568 sq ft, inclusive of 10% balcony, could potentially yield some 125 apartment units at an average size of 450 sq ft. Based on URA baseline reply, no development charge is payable on the subject site.

The subject 15 storey property, currently comprises 26 residential units with sizes ranging from 129 sq m to 332 sq m, enjoys prominent frontage along Marine Parade Road. The redevelopment site is also well served by major arterial roads and has convenient linkage to other parts of the island via the East Coast Park Expressway (ECP). It is within 15 minutes drive to Changi Airport, CBD and Orchard Road shopping belt.

In addition, the site is opposite Parkway Parade, Marine Parade Centre and in close proximity to the upcoming 112 Katong where amenities are easily accessible. Renowned schools such as Tao Nan Primary School, Ngee Ann Primary School, CHIJ Katong Primary, CHIJ Katong Convent, St Patrick’s School, Victoria School and Victoria Junior College are also located in the vicinity of the subject site.

Ms Stella Hoh, National Director and Head of Investments at Jones Lang LaSalle, comments “The subject site offers the potential buyer a great opportunity to acquire a bite-sized freehold land in a prime residential location. Given the ease of accessibility to amenities, close proximity to town, Changi Airport and renowned schools, the site would be able to capture a huge and varied target market. The site is anticipated to generate good response due to the upcoming Eastern Region Line.”

The indicative price is in the region of $81million (or $1,360 per sq ft per plot ratio, inclusive of 10% balcony). The tender will close at 3pm on 27 October (Thursday) 2011.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Specialty chemicals manufacturing facility on Jurong Island for sale

The fully equipped facility is clean and ready to be recommissioned.

Commercial Property

6 hours ago

September surge masks looming export slowdown to 6% in 2027

Maybank raised its 2026 forecast to 27% from 18% in the same report.Non-oil domestic exports (NODX) growth could slow to 6% in 2027 as supply chain pressures and higher financing costs weigh on shipment momentum, Maybank Research Pte Ltd said.

Economy

10 hours ago

Nearly half of workers report six or more unpaid hours a week, report says