Residential site at Upper Bukit Timah up for sale

The tender will close on Thursday, 8 December 2011, 3 pm.

According to a release, DTZ has been appointed as the sole marketing agent for the collective sale of Green Lodge at 19 & 19A Toh Tuck Road, Singapore. The sale is being conducted through a tender exercise which will close on Thursday, 8 December 2011, 3 pm.

Green Lodge is on elevated grounds in a predominantly low-rise residential area surrounded by established landed housing estates including Toh Tuck Garden, Eng Kong Park, etc. The site is located within a tranquil neighbourhood and yet is within short walking distance to a host of amenities including eateries, banks and shopping conveniences. The popular Pei Hwa Presbyterian Primary School is located within 1 km to Green Lodge.

The property is highly accessible via major roads such as Jalan Jurong Kechil, Bukit Timah Road, Dunearn Road, Old Jurong Road, Clementi Road, PIE and BKE. The Beauty World MRT Station on the Downtown Line, expected to be operational in 2015 and located about 800 metres away, will provide easy accessibility to destinations including Methodist Girls’ Primary School, Raffles Girls' Primary School, Hwa Chong Institution and National Junior College as well as to MRT Interchanges at Botanic Gardens, Newton and Little India stations.

The freehold property sits on a land area of approximately 14,035.3 sq m (151,075 sq ft). According to Master Plan 2008, the site can be developed into a five-storey condominium development at a gross plot ratio of 1.4. Green Lodge has an approved density of equivalent plot ratio 1.4896. Development charge is not payable for proposed development of up to plot ratio 1.4896.

The owners are expecting above $195 million for the site. This will work out to about $866 per square foot per plot ratio.

Shaun Poh, DTZ’s Senior Director for Investment Advisory Services and Auction commented: ‘This is a rarely available large freehold redevelopment site in an established residential enclave. The sizeable plot is ideal for a condominium development with full communal facilities. Assuming an average apartment size of 1,000 sq ft each and a building efficiency of 90%, the site can accommodate about 210 residential units. We expect keen interest from developers who will be attracted to key attributes of the site including its close proximity to Beauty World MRT station, Pei Hwa Presbyterian Primary School as well as the amenities and conveniences readily available in the vicinity.’