Freehold site at 118 Killiney Road on sale for $76m

The building has a restaurant on the first storey and 30 apartment units on the upper floors.

A prime freehold site located at 118 Killiney Road was put on sale for $76m.

The property’s marketing agent, Edmund Tie & Company (EDMUND TIE), said the sale will be conducted by tender which will close on 1 June 2022 at 3:00 p.m.

Currently sitting on the 7,688 sq ft, the site is a six-storey building that was completed in 2013. 

The building has a restaurant on the first storey, 30 apartment units on the upper floors, and a basement car park, with a total existing gross floor area of approximately 30,327 sq ft, reflecting a plot ratio of 3.94.

Interested investors can consider either redeveloping the property for hotel use or retrofitting the existing development into serviced apartments without paying a development charge, according to EDMUND TIE 

“Retrofitting to repurpose the property as a serviced apartment allows investors to be cost-efficient with reduced carbon impact,” the marketing agent added.