The owners asked for at least $102m.
JLL launched the en bloc sale of residential site Kismis View in the Upper Bukit Timah area.
The agent said in a press release that 90% of the owners have agreed to a minimum sale price of $102m.
Kismis View comprises 43 units in two four-storey and seven-storey apartment blocks. It is a 99-year leasehold site with a balance lease term of about 64 years.
The site has a land area of 90,863 sqft and a gross floor area of about 139,929 sqft.
At the minimum price and with an estimated differential premium of about $23m, Kismis View’s land cost reflects about $983 psf ppr.
"This compared favourably with some nearby land sales such as the Government Land Sale site at Toh Tuck Road earlier this year, the predominantly residential mixed-use Goh & Goh Building site and the most recent Mayfair Gardens," JLL said.
Kismis View is about 760 metres away from Beauty World MRT Station. It is also near food and beverage and other retail establishments.
The tender for Kismis View closes on 17 January 2018 at 2:30 p.m.
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