$41M asked for three duplexes
THE owner of Singaporean freehold residential project Three Buckley 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 1,444.64sqm (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.
Tan Chun Ming Edmund of Tie & Co senior director of investment advisory said in a statement: “The property has many positive attributes such as a highly coveted freehold tenure, single ownership, prestigious address and many more.
“The property offers investors the flexibility of leasing out to different resident profiles.”
Interested parties may bid for single or multiple units. The exercise closes at 2pm on November 8.