Residential redevelopment site at Sophia Road sells for $33.588m

Sin Thai Hin Development won the bid for the site.

 Sin Thai Hin Development won the tender for the residential redevelopment site at 132 Sophia Road with a bid of $33.588m.

The tender for the site closed on 29 November.

Knight Frank, the exclusive marketing agent of the site, said the sale price translates to a land rate of approximately S$1,172 per square foot per plot ratio (psf ppr), inclusive of a nominal land betterment charge.

The property has a land area of 1,280.5 square metres (sqm) or 13,783 square feet (sq ft) and is zoned "Residential" under the Master Plan 2019., It has a Gross Plot Ratio of 2.1.

 Sin Thai Hin Development is a boutique developer and investment company which has developed and invested in properties in the healthcare, hospitality, residential and commercial office sectors.