The site with 15 two-storey terrace houses can be redeveloped for residential and institutional use.
A residential redevelopment site located at 1 – 21A Jalan Molek and 217 – 223A Guillemard Road has been put up for sale by a single owner, Cushman & Wakefield (C&W) said.
C&W executive director of capital markets Shaun Poh said the site has an indicative price of $99m with a development charge of about $14.6m to maximize the gross floor area (GFA) including the additional 10% bonus balcony. The land rate for the 9,999-year site will come up to approximately $993 psf ppr.
The tender for the site closes on 20 March 2018 (Tuesday) at 3 p.m.
The subject site, comprising 15 existing two-storey terrace houses, is situated within walking distance from Mountbatten MRT Station (CC7), Dakota MRT Station (CC8) and Alunied MRT Station (EW9). The properties enjoy a wide array of amenities including shopping malls at Leisure Park Kallang and One KM, eateries at Geylang area and Old Airport Road Food Centre, as well as the Singapore Sports Hub.
Zoned residential/institution with a plot ratio of 2.8 under master plan 2014, the properties sit on a land plot of 3,449.60 sqm (37,131 sqft) with a baseline GFA of 7,160.1277 sqm (77,071 sqft). C&W added that it has the potential to be redeveloped into a new residential development with an allowable GFA of 9,658.88 sqm (103,967 sq ft). With the inclusion of a 10% bonus balcony area, the maximum GFA will be increased to 10,624.77 sqm (114,364 sqft).
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