At 52 to 62H Tanjong Katong Road in Singapore, a four-storey development of 26-units has been relaunched for tender at a guide price of $63 million. With a land area of 32,397 ft, it has the potential to yield a gross floor area of 45,356 ft upon redevelopment, with an allowable gross plot ratio of 1.4 under the 2019 Master Plan. This would likely create 49 residential apartments with an average size of 915 sq ft. It is situated a 500m walk from Paya Lebar MRT Station, making it ten minutes away from the CBD.
The guide price works out to a land rate of $1,401 psf per plot ratio (psf ppr), with an estimated land betterment charge of $530,000 taken into account. When factoring in a 7% bonus balcony floor area, this could be lowered to $1,375 psf ppr.
Terence Lian, head of investment sales at Huttons Asia, the …