The Beaumont relaunched for sale for $468m
The property will be sold via public tender.
The Beaumont was relaunched for sale for a guide price of $468m or $2,488 per plot ratio.
The property will be sold via public tender which closes on 20 September, according to Savills, the property's marketing agent.
“The property’s development charge payable is $44.36m. The land price is further reduced to $2,366 per plot ratio after factoring in the 7% bonus Gross Floor Area (GFA) for balconies. The development charge payable for the 7% bonus GFA is about $17.3 million,” Savills said.
The Beaumont is a 74,739 sq ft freehold cul-de-sac residential site located at 145 and 147 Devonshire Road in District 9. It comprises a five-storey and ten storey-tower.
“The site can be developed and be positioned as an ultra-luxurious development assuming the average size of the future units is approximately 2,500 sq. ft. each,” added Savills.