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.