Freehold residential land at Siglap for sale: Knight Frank

The 1,319-square-metre site is zoned as residential and has GPR of 1.4.

An exclusive freehold residential land at 3 Palm Road is for sale by bidding until 6 September 2023 at 3 p.m, Knight Frank Singapore, its marketing agent, said.

The vendor will consider offers in above $19m, which translates to approximately $1,338 per square foot (psf) on land. 

For a proposed redevelopment up to a Gross Plot Ratio of 1.4 for apartments, the land rate works out to approximately $1,541 psf per plot ratio (ppr), inclusive of land betterment charge.

It is located within the popular Siglap neighbourhood in District 15 and currently houses a 2-storey bungalow built in the 1980s.

The site can potentially be redeveloped into a boutique residential development composed of 18 units with an average size of 100 sqm, or landed housing such as bungalows or semi-detached houses, subject to approval from the relevant authorities.

It is nestled amid a low-rise residential enclave, the property offers a living environment in an established neighbourhood. It is strategically located approximately 300 metres from the Siglap MRT Station on the Thomson-East Coast Line scheduled for opening in 2024.