$41M asked for three du­plexes

The Phnom Penh Post - - BUSINESS -

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.

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