The sale of the estate domestic site of Nanak Mansions makes it the 4th site around to be marketed en bloc this year. UOL's 50% had partner, Secure Endeavor Development (No. 1) won the proposal with $201.1 million. They have approaches to develop the 10,185 sq feet site into a 5 storey task with a maximum gross flooring are of 153,482 sq ft. This exercises to be around $1,429 psf per story proportion. In July this year, The 23,400 sq ft The Albracca was cost $69.1 million. The last psf ppr price appears for concern the same at $1,409. Area as well as also prospective for increasing floor covering location pluses for designers. Nanak Mansions is possessed by an Indian member of the family whose members have really all offered authorization for the property or business property to be marketed en bloc. Treasure At Tampines location is an excellent choice, it is close to Tanjong Katong MRT.

Presently, all the 36 maisonette devices are tenanted. It is a conventional instance of a beneficial acquisition as the residential or industrial building includes low-rise residences as well as also was developed practically 40 years earlier in the 1980s. The possibility for a grand turn-around is more than likely to occur in the complying with 4 to 5 years. The site commands a high rate for its prime place. It is 400m far from the Tanjong Katong MRT incurable on the upcoming Thomson East Shore MRT line. The special nature of the Meyers road corner of the East Coastline furthermore makes it prime straw for high-end developments. Subsidiaries of the land owner in addition have ownership of the special streets near the structure, regarding 910 sq m in Jalan Nuri. Must they exercise their put option, Secure Venture may effectively additionally obtain the road land.

Leave a Reply

Your email address will not be published. Required fields are marked *