Archive for category: Misc

It is a rare opportunity to acquire a sizeable GCB land in a prime location. On the market starting from $25.8 million is an 11,070 sq ft plot in exclusive Raffles Park GCB Area in District 11. The asking price translates to a land rate of $2,330 psf, making this an attractive opportunity for those looking for a cost effective redevelopment.

This is a rare chance to acquire a sizeable GCB in a prime location. On the market starting from $25.8 million, it is located in the exclusive Raffles Park GCB area in prime District 11. The asking price translates to a land rate of $2,330 psf which is extremely cost effective for potential owners looking for a redevelopment opportunity.

Located in the east of Singapore, Tampines Avenue 11 Condo is quickly becoming a popular destination for locals and visitors alike. Surrounded by plenty of shopping malls, shops, and amenities, it offers an array of lifestyle opportunities for anyone looking for a place to call home. With Century Square just minutes away, residents here can indulge in the latest entertainment, dining, and shopping experiences.

The rectangular-shaped plot has an impressive street frontage of 29.87m and boasts impressive connectivity to the area via two MRT stations – Sixth Avenue and Tan Kah Kee on the Downtown Line. The site also has access to the Pan Island Expressway (PIE) and several major roads such as Bukit Timah Road, Dunearn Road, and Eng Neo Avenue.

This two-storey bungalow was redeveloped 25 years ago and designed in a Spanish-American style. Despite maintenance over the years, the owners are now ready to realise the capital value of the property by selling it.

The bungalow was last renovated in 2013 and is primed for redevelopment, providing potential owners with the chance to create their dream GCB. Homeowners looking for a GCB will appreciate the proximity to numerous schools including Raffles Girls’ Primary School, Nanyang Girls’ High School and National Junior College.

Moreover, located at the end of a cul-de-sac with just 19 neighbours, the new GCB could have a commanding view of the surrounding area and benefit from enhanced privacy.

There are also several amenities and F&B options located in the nearby shophouses along Greenwood Avenue. These include popular eateries such as Rubato, Dan’s Steaks, KaSoh and Baker & Cook, as well as a Cold Storage and a FairPrice Express.

The owners believe that this is the right time to realise the capital value of the property and are placing the GCB on the market competitively. Valuations for the property have been conducted between $24.8 million and $25.7 million.

Costs for the new GCB vary depending on the choice of materials, interior fitouts, and design. The estimated cost for construction is about $700 psf, enhancing its capital value and putting it at par with the best-quality GCBs in the area.

With some GCB transactions in the area going for as high as $2,700 psf to $3,000 psf, the sale of this GCB at $2,330 psf is an eye-catching opportunity from a cost and redevelopment perspective.

URA caveats also show that land prices in Raffles Park have been gradually increasing, with the first GCB to be sold above $2,700 psf occurring last year.

Given the strong demand from newly minted citizens and the reluctance of existing owners to part with their trophy property, GCBs on the market are commanding a premium. Making this a not-to-be-missed chance, keen buyers should consider this before it is snapped up.