298 views
Photo from Knight Frank Singapore

Land parcel at Telok Kurau launched for sale via public tender

It has an indicative guide price of $30m.

A land parcel located at 116 Lorong J and 119 Lorong K Telok Kurau was launched for sale via public tender with an indicative guide price of $30m or approximately $287 per square foot on land.

The tender will close on 20 October 2022, Thursday at 3 pm.

Its sole marketing agent, Knight Frank Singapore, said the land parcel is offered for sale on a 103 years leasehold tenure.

According to Knight Frank, the subject property sits on land measuring 9,705.5 square metres or approximately 104,469 square feet and is zoned as “Civic & Community Institution'' under the Urban Redevelopment Authority (URA) Master Plan 2019.

Currently, the subject property is used as student accommodation and consists of 115 rooms distributed across two blocks of 3-storey and 4-storey buildings. 

“Land parcels zoned as Civic & Community Institution are rarely available for sale and usually offered on a 30-year lease. Given the lease tenure of 103 years, this is a valuable opportunity for prospective parties seeking long-term solutions with certainty in terms of their investment outlay,” said Chia Mein Mein, head of Capital Markets (Land & Collective Sale), Knight Frank Singapore.
 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!