Freehold residential site Makeway View to en bloc

The owners set an asking price of $168m or $1,589 psf ppr.

The en bloc sale of freehold residential site Makeway View, located in the Newton area, has been launched with an asking price of $168m or $1,589 psf ppr, Edmund Tie & Company (SEA) Pte Ltd (ET&Co) said.

According to a press release, Makeway View is an existing 10-storey development comprising 28 apartments and four penthouses. The property has a land area of around 41,582 sqft.

It is zoned for residential use at gross plot ratio of 2.8 under the Master Plan 2014. Subject to relevant approvals from the authorities, the site can be developed into a high-rise apartment block of about 21 to 22 storeys with around 154 units assuming an average apartment size of 70 sqm.

Newton MRT interchange serving the North-South Line and Downtown Line is about 400 metres from the property.

The tender exercise will close on Wednesday, 7 March 2018 at 3 p.m.