Date: 26 February 2019, Author: ST, Source: ST
Brief: Kentish Green, a 122-unit development, with an area of 59,165 sq ft with a lease balance of 76 year is attempting for another collective sale at a reserve price of $200 mil, with $20 mil payable by the buyer to top up the lease. Potential permissions to increase of its plot ratio from 2.8 to 3.0, from six storeys to potentially 28 and an added commercial component of 0.3 per cent of the gross floor area have been obtained.
Owners of the 23-unit freehold St Thomas Ville, located along 38 St Thomas Walk, are also eyeing at least $58 mil or $1,816 psf ppr before factoring in any bonus balcony.
The tenders close on 28 March 2019 and 27 March 2019 respectively.