Freehold residential block at Mount Emily Road up for collective sale at $24 mil
The shophouse row is a five-minute walk away from Chinatown MRT Station on the North-East and Downtown Lines.
JLL says that future growth can be expected in the area, as there is an upcoming 20-storey hotel situated directly behind the shophouses, further boosting F&B and retail demand in the vicinity.
The expression of interest exercise for the sale will close on Aug 5.
A freehold residential block in District 9, at 2, 4 and 6 Mount Emily Road, has been put up for collective sale at a guide price of $24 million, or $1,485 psf on gross floor area.
The property comprises three adjoining units of three-storey buildings with basement and attic, sitting on a 5,549 sq ft site. The development has an existing gross floor area of 16,138 sq ft.
All of the owners have given consent to the collective sale.
Under URA’s Master Plan 2019, the property is zoned for residential use at a plot ratio of 2.1, and is located within the Mount Sophia secondary settlement conservation area. It is a nine-minute walk to Little India MRT Interchange Station, on the NorthEast and Downtown Lines.
The property could potentially be subdivided into strata-titled apartments for sale, comments Swee Shou Fern, executive director of investment advisory at Edmund Tie, who is marketing the property.
The tender for the site will close on Aug 11, at 3pm.
ERA launches virtual robot that gives property investment advice
ERA has launched a virtual robot that can provide clients with automated and instant property investment advice.
Based on the information collected from customers about their financial positions, the virtual robot is able to instantaneously churn out customised plans according to the clients’ financial capability and needs, says ERA in a press statement.