Upper East Coast landed homes launch S$26m collective sale

Annabeth Leow

A group of neighbours in Upper East Coast have banded together for a collective sale of their landed homes.

The two pairs of semi-detached houses hit the market with an asking price of S$26 million, said sole marketing agent Edmund Tie & Co on Monday.

This works out to a land price of S$914 per sq ft (psf) for the 28,449 sq ft freehold site, which spans 9, 9A, 11 and 11A, Jalan Haji Salam.

The property is zoned for mixed landed housing, and can be redeveloped as any combination of detached, semi-detached or terrace housing, including as cluster housing, subject to planning approval.

Smack in between the upcoming Bedok South and Sungei Bedok MRT stations, the site is within one kilometre of Temasek Primary and within two kilometres of Bedok Green Primary, according to the Singapore Land Authority’s OneMap application.

Recent Urban Redevelopment Authority transaction data for the district shows a freehold semi-detached home in Sennett Place going for S$4.7 million earlier this month, or S$1,129 psf, while a bigger house in Lucky View was sold for S$8.3 million, or S$1,001 psf, the month before.

Swee Shou Fern, senior director of investment advisory at Edmund Tie & Co, said in a media statement that sizeable landed housing redevelopment sites are rarely available, and called the price quantum “palatable to developers”.

The tender closes on Oct 31.

This article first appeared in The Business Times on 25 Sep 2018.