Owner asks $41m for Three Buckley duplexes near Newton

Prices dip 0.2%, number of transactions also down: SRX estimates

The owner of freehold residential project Three Buckley in the Newton neighbourhood has put the development up for sale by expression of interest with an asking price of $41 million.

The property at 3 Buckley Road is zoned for residential use and may be built up to a gross plot ratio of 1.4 times its land area of 1,444.64 sq m (15,550 sq ft). The asking price represents a land rate of $1,657 per sq ft.

The development was completed in 2010 and comprises 11 strata duplex units. Most of the units are tenanted, and all are owned by a single company.

The project sits within the prime District 11 region, and is off Newton Road about midway between the Newton and Novena MRT stations.

Edmund Tie & Co senior director of investment advisory Tan Chun Ming said in a statement: "The property has many positive attributes such as a highly coveted freehold tenure, single ownership, prestigious District 11 address and many more. The property offers investors the flexibility of leasing out to different resident profiles - young families who prefer to stay in proximity to educational institutions, expatriates or working adults who prefer to live closer to the CBD (central business district) and the future health hub."

Interested parties may bid for single or multiple units. The exercise closes at 2pm on Nov 8, 2018.

This article first appeared in The Straits Times on 2 Oct 2018.